Victory Capital Management Inc. Has $103.62 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Victory Capital Management Inc. decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,225,867 shares of the company’s stock after selling 18,695 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Keurig Dr Pepper worth $103,615,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its position 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 increased its position in Keurig Dr Pepper by 10.9% during the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after buying an additional 4,970,467 shares during the period. Geode Capital Management LLC increased its position in Keurig Dr Pepper by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock worth $841,886,000 after buying an additional 591,316 shares during the period. Allspring Global Investments Holdings LLC increased its position in Keurig Dr Pepper by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,378,207 shares of the company’s stock worth $488,463,000 after buying an additional 59,464 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Keurig Dr Pepper by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 7,304,769 shares of the company’s stock worth $234,629,000 after buying an additional 342,715 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $33.30 on Thursday. The stock’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $33.89. The firm has a market capitalization of $45.18 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a twelve month low of $28.62 and a twelve 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, beating analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Analyst Ratings Changes

KDP has been the topic of several recent research reports. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Morgan Stanley raised their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Piper Sandler began coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Finally, TD Cowen decreased their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Insider Activity

In related news, 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 directly owns 74,587 shares of the company’s stock, valued at $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 approximately $110,998,993.14. This represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,385,350 shares of company stock valued at $2,755,891,890. 1.00% of the stock is currently owned by corporate insiders.

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.