Cigna Investments Inc. New Purchases 432 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cigna Investments Inc. New lifted its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,363 shares of the company’s stock after buying an additional 432 shares during the quarter. Cigna Investments Inc. New’s holdings in Keurig Dr Pepper were worth $365,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KDP. FMR LLC lifted its holdings in shares of Keurig Dr Pepper by 9.8% in the third 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 in the last quarter. State Street Corp increased its holdings in Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares during the last quarter. National Bank of Canada FI lifted its stake in Keurig Dr Pepper by 394.3% in the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Keurig Dr Pepper by 125.5% during the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after purchasing an additional 767,298 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after purchasing an additional 730,297 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $31.56 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $28.61 and a 12 month high of $38.28. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.16 and a beta of 0.61. The firm’s 50-day moving average is $31.95 and its 200 day moving average is $34.07.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced 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 2.92%. Keurig Dr Pepper’s dividend payout ratio is 55.76%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KDP shares. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Piper Sandler assumed coverage on Keurig Dr Pepper in a report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Citigroup dropped their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average target price of $37.50.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction on Wednesday, January 29th. The stock was bought at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the transaction, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.