Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,548,844 shares of the company's stock after buying an additional 591,316 shares during the quarter. Geode Capital Management LLC owned approximately 1.66% of Keurig Dr Pepper worth $841,886,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. M&T Bank Corp increased its position in Keurig Dr Pepper by 5.1% in the third quarter. M&T Bank Corp now owns 74,943 shares of the company's stock worth $2,808,000 after purchasing an additional 3,664 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter worth $35,000. Nomura Asset Management Co. Ltd. raised its position in shares of Keurig Dr Pepper by 8.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 376,919 shares of the company's stock valued at $14,127,000 after buying an additional 29,755 shares in the last quarter. MML Investors Services LLC grew its position in Keurig Dr Pepper by 31.0% in the third quarter. MML Investors Services LLC now owns 45,439 shares of the company's stock worth $1,703,000 after acquiring an additional 10,760 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Keurig Dr Pepper during the third quarter worth approximately $562,000. Institutional investors own 85.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KDP shares. Evercore ISI upgraded Keurig Dr Pepper to a "hold" rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $37.00 to $39.00 in a research note on Thursday. Citigroup cut their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Barclays cut their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.50.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company's stock, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company's stock.

Keurig Dr Pepper Stock Up 1.7 %

NASDAQ:KDP traded up $0.55 during mid-day trading on Thursday, reaching $33.81. The company's stock had a trading volume of 7,998,006 shares, compared to its average volume of 9,250,455. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $45.86 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. The stock has a fifty day moving average of $33.99 and a 200-day moving average of $34.61. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.48 earnings per share. Keurig Dr Pepper's revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Keurig Dr Pepper Profile

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.