Korea Investment CORP increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 77.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933,748 shares of the company's stock after buying an additional 406,237 shares during the period. Korea Investment CORP owned 0.07% of Keurig Dr Pepper worth $29,992,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Keurig Dr Pepper by 6.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,614 shares of the company's stock worth $1,433,000 after purchasing an additional 2,650 shares in the last quarter. Zions Bancorporation N.A. lifted its position in Keurig Dr Pepper by 49.9% during the 4th quarter. Zions Bancorporation N.A. now owns 20,639 shares of the company's stock valued at $663,000 after acquiring an additional 6,870 shares during the period. Prudential Financial Inc. boosted its stake in Keurig Dr Pepper by 5.5% during the fourth quarter. Prudential Financial Inc. now owns 3,435,311 shares of the company's stock worth $110,342,000 after acquiring an additional 179,067 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in Keurig Dr Pepper by 4.5% in the fourth quarter. ICW Investment Advisors LLC now owns 35,689 shares of the company's stock worth $1,146,000 after purchasing an additional 1,548 shares during the period. Finally, Corebridge Financial Inc. increased its stake in shares of Keurig Dr Pepper by 0.8% during the fourth quarter. Corebridge Financial Inc. now owns 457,490 shares of the company's stock valued at $14,695,000 after purchasing an additional 3,550 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Wells Fargo & Company restated an "overweight" rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. TD Cowen lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their price objective for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.23.
Get Our Latest Report on KDP
Insider Buying and Selling
In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 74,587 shares in the company, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper 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 completion of the transaction, the insider now directly owns 178,511 shares of the company's stock, valued at $5,960,482.29. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,397,350 shares of company stock worth $2,756,292,570. 1.00% of the stock is owned by corporate insiders.
Keurig Dr Pepper Stock Performance
Shares of KDP stock traded up $0.48 during mid-day trading on Monday, reaching $34.22. 14,302,153 shares of the company's stock traded hands, compared to its average volume of 9,638,511. 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 firm has a market capitalization of $46.43 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 12 month low of $30.12 and a 12 month high of $38.28. The firm has a 50 day moving average price of $32.72 and a two-hundred day moving average price of $33.52.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. On average, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.
Keurig Dr Pepper Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. Keurig Dr Pepper's payout ratio is 87.62%.
About Keurig Dr Pepper
(
Free Report)
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.
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