Price T Rowe Associates Inc. MD Has $1.76 Billion Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Price T Rowe Associates Inc. MD raised its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 36.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,656,384 shares of the company's stock after purchasing an additional 14,473,054 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.03% of Keurig Dr Pepper worth $1,755,564,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 buying an additional 242,315 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position 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. lifted its stake 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 valued at $22,806,000 after purchasing an additional 41,466 shares during the period. Swedbank AB boosted its position in shares of Keurig Dr Pepper by 1.8% during the 4th quarter. Swedbank AB now owns 747,002 shares of the company's stock valued at $23,994,000 after purchasing an additional 13,179 shares in the last quarter. Finally, RWC Asset Management LLP grew its stake in Keurig Dr Pepper by 34.6% during the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock worth $49,885,000 after purchasing an additional 398,916 shares during the period. Institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler raised Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Wells Fargo & Company reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. TD Cowen dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Finally, Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average target price of $39.21.

Keurig Dr Pepper Stock Up 0.5 %

Shares of NASDAQ:KDP opened at $35.48 on Wednesday. The stock has a market cap of $48.14 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.42 and a beta of 0.54. The business's 50 day moving average is $33.96 and its 200 day moving average is $33.24. Keurig Dr Pepper Inc. has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted 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. 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 during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business's revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.23 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.59%. Keurig Dr Pepper's payout ratio is presently 87.62%.

Insider Activity

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the sale, the insider now owns 154,511 shares in the company, valued at approximately $5,499,046.49. This trade represents a 7.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Angela A. Stephens sold 7,350 shares of the business's stock in a transaction dated 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 approximately $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,421,350 shares of company stock valued at $2,757,137,010 over the last three months. Corporate insiders own 1.00% of the company's stock.

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.

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