State Street Corp Increases Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State Street Corp boosted its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,609,224 shares of the company's stock after purchasing an additional 4,970,467 shares during the quarter. State Street Corp owned about 3.73% of Keurig Dr Pepper worth $1,908,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KDP. Ashton Thomas Securities LLC purchased a new position in shares of Keurig Dr Pepper in the third quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company's stock worth $27,000 after buying an additional 685 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company's stock worth $26,000 after buying an additional 643 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company's stock valued at $30,000 after buying an additional 301 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Keurig Dr Pepper by 105.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company's stock valued at $39,000 after acquiring an additional 530 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KDP. Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a "hold" rating in a report on Monday, September 23rd. TD Cowen lifted their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, September 26th. Wells Fargo & Company cut their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.36.

Insider Buying and Selling

In other Keurig Dr Pepper 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 transaction of $2,252,850,000.00. Following the completion of the transaction, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock traded down $0.26 during midday trading on Friday, hitting $32.72. The company had a trading volume of 9,582,685 shares, compared to its average volume of 9,332,638. The company has a fifty day simple moving average of $34.22 and a 200 day simple moving average of $34.62. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.52 and a beta of 0.61. 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 Inc. has a 12-month low of $28.61 and a 12-month high of $38.28.

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

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.23 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Keurig Dr Pepper's previous quarterly dividend of $0.22. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

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.