KLP Kapitalforvaltning AS Raises Stock Position in Keurig Dr Pepper, Inc $KDP

KLP Kapitalforvaltning AS lifted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 449,600 shares of the company’s stock after buying an additional 33,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Keurig Dr Pepper were worth $14,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KDP. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after buying an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Keurig Dr Pepper by 108.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after buying an additional 20,196,835 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Keurig Dr Pepper by 981.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,514,608 shares of the company’s stock worth $86,050,000 after purchasing an additional 2,282,050 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in Keurig Dr Pepper during the 1st quarter worth approximately $51,330,000. Finally, Armistice Capital LLC purchased a new stake in Keurig Dr Pepper during the 1st quarter worth approximately $37,632,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $25.58 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a 12 month low of $25.03 and a 12 month high of $37.27. The company has a 50 day simple moving average of $29.67 and a two-hundred day simple moving average of $32.36. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.39 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 26th. Keurig Dr Pepper’s payout ratio is currently 82.14%.

Insider Buying and Selling at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 208,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the completion of the transaction, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. The trade was a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the transaction, the insider owned 82,511 shares of the company’s stock, valued at approximately $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,601 shares of company stock valued at $14,421,512. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on KDP shares. Piper Sandler dropped their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Cowen reissued a “hold” rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 1st. Hsbc Global Res downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Bank of America dropped their target price on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays downgraded shares of Keurig Dr Pepper from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $26.00 in a research report on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Hold” and an average target price of $35.00.

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.