Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Sumitomo Mitsui Trust Group Inc. increased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,895,796 shares of the company’s stock after acquiring an additional 29,891 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Keurig Dr Pepper were worth $108,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Keurig Dr Pepper during the 3rd quarter valued at $25,000. Blue Trust Inc. lifted its holdings in shares of Keurig Dr Pepper by 312.1% during the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after buying an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Keurig Dr Pepper by 617.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after buying an additional 685 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after purchasing an additional 301 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $35,000. 85.23% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Up 0.7 %

Shares of NASDAQ KDP opened at $33.56 on Thursday. The company has a market cap of $45.52 billion, a P/E ratio of 20.34, a PEG ratio of 2.58 and a beta of 0.63. The firm has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $34.79. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. Research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.74%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KDP shares. JPMorgan Chase & Co. reduced their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Citigroup cut their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Barclays dropped their price objective on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Royal Bank of Canada increased their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.36.

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.