Russell Investments Group Ltd. raised its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) by 133.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 856,798 shares of the company’s stock after buying an additional 489,439 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Keurig Dr Pepper worth $26,754,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of KDP. Kestra Private Wealth Services LLC raised its stake in shares of Keurig Dr Pepper by 5.1% in the second quarter. Kestra Private Wealth Services LLC now owns 6,672 shares of the company’s stock worth $209,000 after buying an additional 325 shares during the period. Unison Advisors LLC boosted its position in shares of Keurig Dr Pepper by 0.6% in the second quarter. Unison Advisors LLC now owns 58,213 shares of the company’s stock worth $1,832,000 after purchasing an additional 333 shares during the period. Shorepoint Capital Partners LLC lifted its stake in shares of Keurig Dr Pepper by 2.5% during the 1st quarter. Shorepoint Capital Partners LLC now owns 14,221 shares of the company’s stock valued at $502,000 after buying an additional 350 shares in the last quarter. Carmel Capital Partners LLC increased its stake in Keurig Dr Pepper by 2.4% in the 2nd quarter. Carmel Capital Partners LLC now owns 14,930 shares of the company’s stock worth $467,000 after buying an additional 350 shares in the last quarter. Finally, Commerce Bank increased its stake in Keurig Dr Pepper by 1.7% in the 2nd quarter. Commerce Bank now owns 21,347 shares of the company’s stock worth $668,000 after buying an additional 350 shares in the last quarter. 52.29% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Keurig Dr Pepper from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. StockNews.com began coverage on shares of Keurig Dr Pepper in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of Keurig Dr Pepper in a research report on Monday, November 13th. They set a “buy” rating and a $39.00 target price for the company. Barclays lifted their price target on shares of Keurig Dr Pepper from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Citigroup dropped their price target on Keurig Dr Pepper from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.
Insider Buying and Selling
In other news, COO Timothy P. Cofer bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average price of $31.26 per share, with a total value of $1,563,000.00. Following the completion of the transaction, the chief operating officer now directly owns 350,393 shares of the company’s stock, valued at approximately $10,953,285.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Matthew Andrew Archambault sold 40,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $33.61, for a total value of $1,344,400.00. Following the completion of the transaction, the insider now owns 16,800 shares of the company’s stock, valued at approximately $564,648. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Timothy P. Cofer bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $31.26 per share, for a total transaction of $1,563,000.00. Following the completion of the acquisition, the chief operating officer now owns 350,393 shares of the company’s stock, valued at $10,953,285.18. The disclosure for this purchase can be found here. Insiders acquired 72,050 shares of company stock valued at $2,240,048 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Keurig Dr Pepper Stock Performance
Shares of Keurig Dr Pepper stock opened at $31.78 on Tuesday. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $38.94. The company has a market capitalization of $44.44 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67. The stock’s fifty day moving average is $30.93 and its two-hundred day moving average is $31.88. The company has a quick ratio of 0.23, a current ratio of 0.39 and a debt-to-equity ratio of 0.39.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Keurig Dr Pepper had a return on equity of 9.76% and a net margin of 13.16%. Keurig Dr Pepper’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, analysts expect that Keurig Dr Pepper Inc. will post 1.78 earnings per share for the current year.
Keurig Dr Pepper Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 2.71%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, September 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 62.32%.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.
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