JPMorgan Chase & Co. Purchases 4,562,128 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

JPMorgan Chase & Co. increased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,685,837 shares of the company's stock after purchasing an additional 4,562,128 shares during the period. JPMorgan Chase & Co. owned about 1.38% of Keurig Dr Pepper worth $600,189,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in Keurig Dr Pepper by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock worth $100,796,000 after acquiring an additional 242,315 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Keurig Dr Pepper by 53.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock worth $10,400,000 after acquiring an additional 112,819 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Keurig Dr Pepper by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company's stock worth $22,806,000 after acquiring an additional 41,466 shares in the last quarter. Swedbank AB grew its position in Keurig Dr Pepper by 1.8% during the 4th quarter. Swedbank AB now owns 747,002 shares of the company's stock worth $23,994,000 after acquiring an additional 13,179 shares during the last quarter. Finally, RWC Asset Management LLP increased its holdings in Keurig Dr Pepper by 34.6% during the 4th quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock valued at $49,885,000 after purchasing an additional 398,916 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In other news, VP Angela A. Stephens sold 7,350 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the sale, the vice president now owns 74,587 shares of the company's stock, valued at $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $33.39, for a total transaction of $400,680.00. Following the transaction, the insider now owns 178,511 shares of the company's stock, valued at $5,960,482.29. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,397,350 shares of company stock worth $2,756,292,570 over the last three months. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KDP. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their target price for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a "neutral" rating and a $35.00 price target on the stock. Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Finally, TD Cowen decreased their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.23.

Keurig Dr Pepper Trading Up 1.4 %

NASDAQ:KDP traded up $0.48 during trading hours on Monday, hitting $34.22. The stock had a trading volume of 14,302,153 shares, compared to its average volume of 9,638,512. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year high of $38.28. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The business's 50 day moving average is $32.72 and its 200-day moving average is $33.52.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating 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 firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The business's revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio is 87.62%.

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.