T. Rowe Price Investment Management Inc. Acquires New Position in Keurig Dr Pepper, Inc $KDP

T. Rowe Price Investment Management Inc. purchased a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 25,978,817 shares of the company’s stock, valued at approximately $727,667,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter worth approximately $26,000. Clearstead Trust LLC boosted its position in shares of Keurig Dr Pepper by 98.3% in the 3rd quarter. Clearstead Trust LLC now owns 1,081 shares of the company’s stock worth $28,000 after buying an additional 536 shares in the last quarter. Activest Wealth Management boosted its position in shares of Keurig Dr Pepper by 5,642.1% in the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock worth $31,000 after buying an additional 1,072 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at about $31,000. Finally, Rossby Financial LCC grew its stake in Keurig Dr Pepper by 45.1% in the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock valued at $31,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 0.4%

Shares of KDP opened at $30.76 on Friday. The stock’s fifty day simple moving average is $28.99 and its 200 day simple moving average is $28.36. The firm has a market capitalization of $41.85 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last posted 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. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. Keurig Dr Pepper’s dividend payout ratio is presently 68.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KDP shares. JPMorgan Chase & Co. lifted their target price 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 target on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Sanford C. Bernstein assumed coverage on shares of Keurig Dr Pepper in a research note on Thursday, June 11th. They set an “outperform” rating and a $38.00 price objective for the company. Barclays lifted their price objective on Keurig Dr Pepper from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Finally, UBS Group increased their target price on Keurig Dr Pepper from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Hold” and an average target price of $32.00.

About Keurig Dr Pepper

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.