Legacy Financial Group LLC Takes Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Legacy Financial Group LLC purchased a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,619 shares of the company's stock, valued at approximately $277,000.

Several other large investors have also made changes to their positions in the business. Marshall Wace LLP purchased a new stake in Keurig Dr Pepper in the 2nd quarter worth $10,191,000. Dark Forest Capital Management LP boosted its stake in Keurig Dr Pepper by 52.2% during the second quarter. Dark Forest Capital Management LP now owns 11,908 shares of the company's stock valued at $398,000 after buying an additional 4,084 shares during the last quarter. MBB Public Markets I LLC grew its holdings in Keurig Dr Pepper by 847.2% during the 2nd quarter. MBB Public Markets I LLC now owns 76,389 shares of the company's stock valued at $2,551,000 after buying an additional 68,324 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Keurig Dr Pepper by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 626,393 shares of the company's stock worth $20,922,000 after acquiring an additional 9,999 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company's stock worth $333,057,000 after acquiring an additional 609,857 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP traded up $0.68 during mid-day trading on Monday, hitting $31.83. The company's stock had a trading volume of 8,780,042 shares, compared to its average volume of 7,891,423. The business's fifty day moving average is $32.12 and its two-hundred day moving average is $34.17. The stock has a market cap of $43.18 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.19 and a beta of 0.62. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.89%. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. UBS Group lowered their price target on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, January 16th. 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. Finally, Piper Sandler assumed coverage on Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a "neutral" rating and a $35.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

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.