PNC Financial Services Group Inc. Grows Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

PNC Financial Services Group Inc. increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,170 shares of the company's stock after purchasing an additional 14,805 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Keurig Dr Pepper were worth $5,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of KDP. Perigon Wealth Management LLC boosted its stake in Keurig Dr Pepper by 1.2% in the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company's stock worth $893,000 after purchasing an additional 342 shares during the period. Barden Capital Management Inc. lifted its position in shares of Keurig Dr Pepper by 0.9% in the fourth quarter. Barden Capital Management Inc. now owns 39,836 shares of the company's stock worth $1,280,000 after buying an additional 353 shares in the last quarter. Custom Index Systems LLC grew its holdings in Keurig Dr Pepper by 5.3% during the 4th quarter. Custom Index Systems LLC now owns 7,109 shares of the company's stock valued at $228,000 after buying an additional 357 shares in the last quarter. First Hawaiian Bank increased its stake in Keurig Dr Pepper by 5.2% in the 4th quarter. First Hawaiian Bank now owns 7,789 shares of the company's stock worth $250,000 after acquiring an additional 384 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Keurig Dr Pepper by 2.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 14,198 shares of the company's stock worth $532,000 after acquiring an additional 400 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

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Keurig Dr Pepper Trading Up 0.9 %

Shares of Keurig Dr Pepper stock traded up $0.30 on Thursday, hitting $33.11. 12,554,859 shares of the company traded hands, compared to its average volume of 9,239,882. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $44.92 billion, a PE ratio of 20.07, a PEG ratio of 2.42 and a beta of 0.62. The stock's 50 day moving average price is $32.13 and its 200-day moving average price is $33.79. Keurig Dr Pepper Inc. has a 52 week low of $28.62 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its 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 return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company posted $0.55 EPS. Keurig Dr Pepper's revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.78%. Keurig Dr Pepper's dividend payout ratio is presently 87.62%.

Insiders Place Their Bets

In related news, Chairman Robert James Gamgort sold 416,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the transaction, the chairman now directly owns 3,237,066 shares in the company, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the transaction, the insider now owns 134,113,479 shares of the company's stock, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,385,350 shares of company stock worth $2,755,891,890. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KDP. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, December 12th. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a "neutral" rating and a $35.00 price objective for the company. TD Cowen decreased their target price on shares of 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. Morgan Stanley increased their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.23.

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.