Keurig Dr Pepper Inc. (NASDAQ:KDP) Holdings Lifted by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 20.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 472,981 shares of the company’s stock after purchasing an additional 81,302 shares during the quarter. Cibc World Markets Corp’s holdings in Keurig Dr Pepper were worth $15,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KDP. GSA Capital Partners LLP raised its stake in Keurig Dr Pepper by 34.5% during the 3rd quarter. GSA Capital Partners LLP now owns 20,754 shares of the company’s stock valued at $778,000 after acquiring an additional 5,329 shares in the last quarter. Huntington National Bank increased its holdings in shares of Keurig Dr Pepper by 12.4% during the third quarter. Huntington National Bank now owns 3,938 shares of the company’s stock valued at $148,000 after purchasing an additional 435 shares during the period. Natixis Advisors LLC raised its stake in shares of Keurig Dr Pepper by 18.7% during the third quarter. Natixis Advisors LLC now owns 710,239 shares of the company’s stock valued at $26,620,000 after purchasing an additional 111,892 shares in the last quarter. Swiss National Bank lifted its holdings in Keurig Dr Pepper by 0.5% in the third quarter. Swiss National Bank now owns 3,219,000 shares of the company’s stock worth $120,648,000 after purchasing an additional 15,200 shares during the period. Finally, Clarkston Capital Partners LLC grew its position in Keurig Dr Pepper by 0.3% in the 3rd quarter. Clarkston Capital Partners LLC now owns 588,802 shares of the company’s stock valued at $22,068,000 after buying an additional 1,481 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KDP. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target for the company. Morgan Stanley increased their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. TD Cowen decreased their target price 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, Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

Keurig Dr Pepper Stock Up 0.7 %

Shares of NASDAQ:KDP opened at $33.84 on Tuesday. The firm has a 50 day simple moving average of $32.22 and a 200 day simple moving average of $33.72. Keurig Dr Pepper Inc. has a 52 week low of $28.80 and a 52 week high of $38.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The company has a market cap of $45.91 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (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 company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. Keurig Dr Pepper’s payout ratio is presently 87.62%.

Insider Buying and Selling at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $34.05, for a total transaction of $408,600.00. Following the completion of the sale, the insider now directly owns 187,537 shares in the company, valued at approximately $6,385,634.85. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert James Gamgort sold 416,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were 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 owns 3,237,066 shares in the company, valued at $110,998,993.14. This trade represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,385,350 shares of company stock valued at $2,755,891,890 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

About Keurig Dr Pepper

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.