DAVENPORT & Co LLC Has $80.93 Million Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

DAVENPORT & Co LLC lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,523,428 shares of the company's stock after selling 18,799 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.19% of Keurig Dr Pepper worth $80,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB lifted its holdings in shares of Keurig Dr Pepper by 57.7% during the 3rd quarter. Swedbank AB now owns 733,823 shares of the company's stock valued at $27,504,000 after buying an additional 268,555 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Keurig Dr Pepper by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company's stock valued at $122,038,000 after buying an additional 22,657 shares during the last quarter. Franklin Resources Inc. lifted its holdings in 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 purchasing an additional 41,466 shares during the last quarter. LMR Partners LLP lifted its holdings in Keurig Dr Pepper by 55.5% in the 3rd quarter. LMR Partners LLP now owns 521,000 shares of the company's stock worth $19,527,000 after purchasing an additional 186,002 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its holdings in Keurig Dr Pepper by 9.4% in the 3rd quarter. Curi RMB Capital LLC now owns 628,042 shares of the company's stock worth $23,539,000 after purchasing an additional 54,167 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Insider Activity

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the purchase, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Keurig Dr Pepper Stock Up 0.5 %

Shares of NASDAQ:KDP traded up $0.14 during mid-day trading on Wednesday, reaching $31.42. 2,510,181 shares of the stock were exchanged, compared to its average volume of 7,740,981. 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 company has a market cap of $42.62 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.24 and a beta of 0.61. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The stock's 50 day simple moving average is $32.08 and its 200-day simple moving average is $34.13.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.23 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 2.93%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 55.76%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KDP shares. Jefferies Financial Group lowered their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Barclays reduced their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. TD Cowen cut their price target 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. Piper Sandler initiated coverage on Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a "neutral" rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

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.