Fulton Bank N.A. Acquires 7,486 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fulton Bank N.A. grew its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,833 shares of the company’s stock after acquiring an additional 7,486 shares during the quarter. Fulton Bank N.A.’s holdings in Keurig Dr Pepper were worth $1,945,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 23.6% in 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of Keurig Dr Pepper by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock worth $1,946,561,000 after acquiring an additional 5,646,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Keurig Dr Pepper by 36.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Keurig Dr Pepper by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company’s stock worth $784,974,000 after acquiring an additional 1,962,195 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Keurig Dr Pepper by 19.6% in the fourth quarter. Invesco Ltd. now owns 21,605,610 shares of the company’s stock worth $693,972,000 after acquiring an additional 3,539,463 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $33.96, for a total transaction of $7,063,680.00. Following the transaction, the director now owns 3,054,490 shares in the company, valued at approximately $103,730,480.40. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the transaction, the insider now owns 166,511 shares in the company, valued at approximately $5,791,252.58. This trade represents a 6.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 478,500 shares of company stock valued at $16,311,560 over the last three months. Insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $32.82 on Wednesday. The stock has a 50 day moving average price of $34.13 and a 200 day moving average price of $33.04. Keurig Dr Pepper Inc. has a 52 week low of $30.12 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 stock has a market capitalization of $44.58 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.80%. Keurig Dr Pepper’s payout ratio is 83.64%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KDP shares. Argus started coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a “buy” rating and a $40.00 price objective for the company. UBS Group upped their price objective on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

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.