Cresset Asset Management LLC Has $2.27 Million Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cresset Asset Management LLC raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,804 shares of the company’s stock after buying an additional 14,411 shares during the period. Cresset Asset Management LLC’s holdings in Keurig Dr Pepper were worth $2,274,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after acquiring an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock valued at $681,579,000 after purchasing an additional 8,363,192 shares during the period. Norges Bank acquired a new position in Keurig Dr Pepper in the 4th quarter valued at $197,819,000. Finally, Wellington Management Group LLP increased its position in Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock worth $1,946,561,000 after buying an additional 5,646,179 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.54 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $30.12 and a fifty-two week high of $38.28. The stock has a market cap of $45.55 billion, a PE ratio of 20.33, a PEG ratio of 2.42 and a beta of 0.52. 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 firm’s fifty day moving average price is $34.21 and its two-hundred day moving average price is $33.05.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 83.64%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the sale, the vice president now directly owns 74,587 shares in the company, valued at approximately $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the completion of the sale, the insider now owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,863,850 shares of company stock worth $2,772,203,450 over the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KDP shares. HSBC raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the company from $36.00 to $42.00 in a research report on Friday, April 25th. Hsbc Global Res raised shares of Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, Barclays lifted their price objective on Keurig Dr Pepper from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

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.