Vanguard Group Inc. Purchases 14,244,768 Shares of Keurig Dr Pepper, Inc $KDP

Vanguard Group Inc. increased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,257,574 shares of the company’s stock after acquiring an additional 14,244,768 shares during the quarter. Vanguard Group Inc. owned about 11.72% of Keurig Dr Pepper worth $5,265,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KDP. JPMorgan Chase & Co. grew its holdings in Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Keurig Dr Pepper by 981.3% in 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 in the last quarter. Seven Grand Managers LLC acquired a new stake in shares of Keurig Dr Pepper in the 1st quarter worth $51,330,000. Finally, Armistice Capital LLC purchased a new position in Keurig Dr Pepper during the 1st quarter worth $37,632,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HSBC reiterated a “hold” rating and issued a $30.00 price target (down from $42.00) on shares of Keurig Dr Pepper in a research note on Tuesday, August 26th. Bank of America decreased their price objective on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Friday, October 31st. TD Cowen dropped their target price on shares of Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Finally, Piper Sandler decreased their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.27.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $26.89 on Thursday. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The business’s 50 day moving average price is $26.74 and its 200 day moving average price is $30.75. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a market cap of $36.53 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.75 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 26th. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

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.