Gotham Asset Management LLC Grows Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Gotham Asset Management LLC increased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 46.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 666,415 shares of the company’s stock after acquiring an additional 212,696 shares during the period. Gotham Asset Management LLC’s holdings in Keurig Dr Pepper were worth $21,405,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Keurig Dr Pepper by 36.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock valued at $1,755,564,000 after purchasing an additional 14,473,054 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Keurig Dr Pepper by 65.0% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock valued at $681,579,000 after purchasing an additional 8,363,192 shares during the period. Norges Bank purchased a new stake in Keurig Dr Pepper in the fourth quarter worth about $197,819,000. Finally, Wellington Management Group LLP raised its stake in shares of Keurig Dr Pepper by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock worth $1,946,561,000 after buying an additional 5,646,179 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of recent research reports. UBS Group boosted their price objective on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Piper Sandler upgraded shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $40.00 in a research report on Wednesday, April 9th. Argus initiated coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.33.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.54 on Friday. 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 1-year low of $30.12 and a 1-year high of $38.28. The business has a 50 day simple moving average of $34.21 and a two-hundred day simple moving average of $33.05. The stock has a market capitalization of $45.55 billion, a PE ratio of 20.33, a P/E/G ratio of 2.42 and a beta of 0.52.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is 83.64%.

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total transaction of $496,480.00. Following the sale, the vice president now owns 62,411 shares in the company, valued at approximately $2,136,952.64. This represents a 18.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the completion of the sale, the insider now owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,863,850 shares of company stock valued at $2,772,203,450. 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.