Magnetar Financial LLC Buys New Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Magnetar Financial LLC bought a new stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 89,259 shares of the company’s stock, valued at approximately $2,867,000.

Several other hedge funds also recently made changes to their positions in KDP. FMR LLC grew its holdings in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares during the last quarter. State Street Corp grew its holdings in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Keurig Dr Pepper by 394.3% during the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after buying an additional 1,956,138 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter worth about $57,995,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter worth about $38,629,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $33.43 on Friday. The business’s 50 day simple moving average is $32.37 and its 200-day simple moving average is $33.70. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 12 month low of $29.53 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, equities analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.75%. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KDP shares. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 target price for the company. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Finally, Morgan Stanley raised their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

Insider Buying and Selling

In related news, Chairman Robert James Gamgort sold 416,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the transaction, the chairman now directly owns 3,237,066 shares in the company, valued at $110,998,993.14. The trade was a 11.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total value of $251,149.50. Following the transaction, the vice president now owns 74,587 shares of the company’s stock, valued at $2,548,637.79. This represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,385,350 shares of company stock worth $2,755,891,890 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.