Principal Financial Group Inc. raised its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 940,870 shares of the company’s stock after acquiring an additional 119,046 shares during the quarter. Principal Financial Group Inc.’s holdings in Keurig Dr Pepper were worth $32,140,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of KDP. Assetmark Inc. boosted its position in shares of Keurig Dr Pepper by 503.0% in the 2nd quarter. Assetmark Inc. now owns 796 shares of the company’s stock worth $28,000 after purchasing an additional 664 shares in the last quarter. Parisi Gray Wealth Management purchased a new position in Keurig Dr Pepper in the 2nd quarter worth approximately $29,000. Berman Capital Advisors LLC raised its holdings in Keurig Dr Pepper by 314.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,195 shares of the company’s stock worth $42,000 after acquiring an additional 907 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Keurig Dr Pepper by 83.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,412 shares of the company’s stock worth $50,000 after acquiring an additional 643 shares during the last quarter. Finally, GeoWealth Management LLC purchased a new position in Keurig Dr Pepper in the 2nd quarter worth approximately $57,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Herbert Derek Hopkins sold 5,000 shares of the stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $35.51, for a total transaction of $177,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 83,347 shares of company stock worth $2,971,569. Insiders own 1.00% of the company’s stock.
Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, October 28th. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. Keurig Dr Pepper had a net margin of 13.94% and a return on equity of 9.10%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.6 earnings per share for the current year.
Keurig Dr Pepper announced that its board has approved a stock buyback program on Friday, October 1st that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 20th. Stockholders of record on Thursday, January 6th will be paid a dividend of $0.1875 per share. The ex-dividend date is Wednesday, January 5th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.91%. Keurig Dr Pepper’s dividend payout ratio is presently 61.98%.
KDP has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Keurig Dr Pepper from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, September 20th. Royal Bank of Canada boosted their target price on shares of Keurig Dr Pepper from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, October 29th. Finally, Zacks Investment Research upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and set a $38.00 target price for the company in a research note on Friday, November 12th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $38.44.
Keurig Dr Pepper Profile
Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
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