Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 18.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,051,900 shares of the company’s stock after acquiring an additional 162,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Keurig Dr Pepper worth $33,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Keurig Dr Pepper by 8.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock worth $100,796,000 after purchasing an additional 242,315 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock worth $10,400,000 after buying an additional 112,819 shares during the period. Franklin Resources Inc. increased its position in shares of Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after acquiring an additional 41,466 shares in the last quarter. Swedbank AB raised its holdings in shares of Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock valued at $23,994,000 after acquiring an additional 13,179 shares during the period. Finally, RWC Asset Management LLP lifted its position in shares of Keurig Dr Pepper by 34.6% in the 4th quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock valued at $49,885,000 after acquiring an additional 398,916 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the transaction, the insider now owns 154,511 shares in the company, valued at $5,499,046.49. The trade was a 7.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,421,350 shares of company stock valued at $2,757,137,010 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $34.46 on Friday. The firm has a market cap of $46.75 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The company’s fifty day moving average is $34.09 and its 200-day moving average is $33.24. 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 12 month low of $30.12 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. Equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.23 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.67%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 87.62%.

Analysts Set New Price Targets

Several brokerages have issued reports on KDP. TD Cowen cut their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. UBS Group lifted their price target on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $40.00 in a research note on Tuesday, April 1st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Finally, Piper Sandler raised shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $40.00 in a research report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and an average target price of $39.21.

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.