Resona Asset Management Co. Ltd. Purchases Shares of 416,490 Keurig Dr Pepper Inc. (NASDAQ:KDP)

Resona Asset Management Co. Ltd. purchased a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 416,490 shares of the company's stock, valued at approximately $13,385,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock valued at $3,841,140,000 after purchasing an additional 22,856,757 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company's stock valued at $681,579,000 after buying an additional 8,363,192 shares during the period. Norges Bank acquired a new position in shares of Keurig Dr Pepper during the 4th quarter valued at about $197,819,000. Wellington Management Group LLP lifted its holdings in shares of Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock worth $1,946,561,000 after acquiring an additional 5,646,179 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Keurig Dr Pepper by 32.3% in the fourth quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company's stock worth $600,189,000 after acquiring an additional 4,562,128 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KDP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their price target for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $40.00 in a report on Wednesday. Barclays set a $39.00 price target on Keurig Dr Pepper in a research report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.77.

Insider Buying and Selling

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the completion of the transaction, the chairman now owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.78, for a total value of $417,360.00. Following the sale, the insider now directly owns 166,511 shares in the company, valued at approximately $5,791,252.58. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,409,350 shares of company stock worth $2,756,709,930 in the last three months. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Stock Up 1.2 %

NASDAQ KDP traded up $0.43 on Friday, hitting $35.18. 2,439,252 shares of the stock traded hands, compared to its average volume of 9,884,472. 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 stock has a 50-day moving average of $33.31 and a 200 day moving average of $33.34. Keurig Dr Pepper Inc. has a twelve month low of $30.12 and a twelve month high of $38.28. The company has a market capitalization of $47.73 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. As a group, analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio (DPR) is 87.62%.

Keurig Dr Pepper Company 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.