Forvis Mazars Wealth Advisors LLC Has $939,000 Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Forvis Mazars Wealth Advisors LLC lifted its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 23.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,237 shares of the company’s stock after buying an additional 5,494 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Keurig Dr Pepper were worth $939,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC raised its stake in Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after buying an additional 9,105,164 shares during the period. State Street Corp grew its stake in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. National Bank of Canada FI increased its holdings 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 valued at $91,908,000 after acquiring an additional 1,956,138 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Keurig Dr Pepper by 125.5% during the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock worth $51,679,000 after purchasing an additional 767,298 shares during the period. Finally, Suvretta Capital Management LLC bought a new position in shares of Keurig Dr Pepper in the 3rd quarter worth $26,352,000. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $34.04 on Monday. The stock has a 50 day moving average of $31.80 and a 200 day moving average of $33.94. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.42 and a beta of 0.61. Keurig Dr Pepper Inc. has a 12 month low of $28.61 and a 12 month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the acquisition, the insider now owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

KDP has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price target for the company. Barclays decreased their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. TD Cowen cut their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lowered their price objective on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

Keurig Dr Pepper 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.