Perpetual Ltd Decreases Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Perpetual Ltd reduced its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 863,176 shares of the company’s stock after selling 13,402 shares during the period. Perpetual Ltd’s holdings in Keurig Dr Pepper were worth $29,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KDP. Vanguard Group Inc. lifted its holdings in Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 valued at $1,946,561,000 after purchasing an additional 5,646,179 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Keurig Dr Pepper by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company’s stock worth $784,974,000 after purchasing an additional 1,962,195 shares during the period. Finally, Invesco Ltd. boosted 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 buying an additional 3,539,463 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KDP shares. Morgan Stanley raised shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $40.00 in a report on Tuesday, April 1st. Argus began coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They set a “buy” rating and a $40.00 price target on the stock. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Barclays raised their price objective on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Finally, Piper Sandler upgraded 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 note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Insiders Place Their Bets

In related news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $33.64, for a total value of $403,680.00. Following the completion of the transaction, the insider now owns 106,511 shares of the company’s stock, valued at approximately $3,583,030.04. This trade represents a 10.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $33.96, for a total value of $7,063,680.00. Following the completion of the transaction, the director now owns 3,054,490 shares of the company’s stock, valued at approximately $103,730,480.40. This represents a 6.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 698,500 shares of company stock valued at $23,594,400 in the last quarter. 0.40% of the stock is currently owned by insiders.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $33.04 on Friday. The company has a market cap of $44.87 billion, a P/E ratio of 30.04, a P/E/G ratio of 2.54 and a beta of 0.48. 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 0.49, a quick ratio of 0.31 and a current ratio of 0.47. The firm’s fifty day moving average is $33.58 and its two-hundred day moving average is $33.10.

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 the consensus estimate of $0.38 by $0.04. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, June 27th. Keurig Dr Pepper’s payout ratio is 83.64%.

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.