Geode Capital Management LLC Grows Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Geode Capital Management LLC grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,511,039 shares of the company's stock after acquiring an additional 1,962,195 shares during the quarter. Geode Capital Management LLC owned 1.81% of Keurig Dr Pepper worth $784,974,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC raised its position in Keurig Dr Pepper by 38.4% in the 3rd quarter. Townsquare Capital LLC now owns 15,407 shares of the company's stock worth $577,000 after purchasing an additional 4,275 shares during the period. Captrust Financial Advisors increased its holdings in shares of Keurig Dr Pepper by 77.8% in the third quarter. Captrust Financial Advisors now owns 54,941 shares of the company's stock worth $2,059,000 after buying an additional 24,034 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Keurig Dr Pepper by 39.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 16,725 shares of the company's stock valued at $627,000 after acquiring an additional 4,691 shares during the last quarter. Centiva Capital LP purchased a new stake in Keurig Dr Pepper during the 3rd quarter valued at about $1,465,000. Finally, Hilltop Holdings Inc. bought a new position in Keurig Dr Pepper during the 3rd quarter worth approximately $404,000. 93.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays set a $39.00 price objective on Keurig Dr Pepper in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. TD Cowen cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $38.00 to $40.00 in a report on Tuesday, April 1st. Finally, Piper Sandler started coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a "neutral" rating and a $35.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Keurig Dr Pepper has an average rating of "Moderate Buy" and a consensus target price of $38.38.

Keurig Dr Pepper Stock Down 1.1 %

Shares of KDP stock traded down $0.39 during mid-day trading on Monday, reaching $33.42. 5,742,103 shares of the company's stock traded hands, compared to its average volume of 9,732,812. The company's 50-day moving average price is $33.05 and its 200-day moving average price is $33.43. The company has a market cap of $45.35 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.42 and a beta of 0.54. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $30.12 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio (DPR) is 87.62%.

Insider Transactions at Keurig Dr Pepper

In other news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $34.78, for a total transaction of $417,360.00. Following the sale, the insider now owns 166,511 shares of the company's stock, valued at $5,791,252.58. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the transaction, the vice president now owns 74,587 shares in the company, valued at approximately $2,548,637.79. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,409,350 shares of company stock valued at $2,756,709,930 in the last quarter. 1.00% of the stock is owned by insiders.

About Keurig Dr Pepper

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.