Clearbridge Investments LLC increased its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) by 77.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,025,695 shares of the company’s stock after buying an additional 1,321,096 shares during the period. Clearbridge Investments LLC’s holdings in Keurig Dr Pepper were worth $84,750,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Keurig Dr Pepper during the 4th quarter worth approximately $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Keurig Dr Pepper by 102,300.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company’s stock worth $34,000 after purchasing an additional 1,023 shares during the period. Clearstead Trust LLC boosted its position in shares of Keurig Dr Pepper by 98.3% during the 3rd quarter. Clearstead Trust LLC now owns 1,081 shares of the company’s stock worth $28,000 after purchasing an additional 536 shares during the period. Activest Wealth Management boosted its position in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock worth $31,000 after purchasing an additional 1,072 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new position in shares of Keurig Dr Pepper during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Analysts Set New Price Targets
KDP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Citigroup lowered their price objective on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Zacks Research cut shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Barclays increased their target price on shares of Keurig Dr Pepper from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.57.
Keurig Dr Pepper Price Performance
Keurig Dr Pepper stock opened at $30.75 on Tuesday. The firm has a market cap of $41.84 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.41. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $28.09 and its two-hundred day moving average is $28.14.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.
Keurig Dr Pepper Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. Keurig Dr Pepper’s dividend payout ratio is 68.15%.
Keurig Dr Pepper Profile
Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.
The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.
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