Pitcairn Co. Acquires 16,469 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Pitcairn Co. boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 46.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,664 shares of the company’s stock after purchasing an additional 16,469 shares during the period. Pitcairn Co.’s holdings in Keurig Dr Pepper were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its position in shares of Keurig Dr Pepper by 38.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,732 shares of the company’s stock valued at $483,000 after acquiring an additional 4,351 shares during the period. 1832 Asset Management L.P. grew its position in shares of Keurig Dr Pepper by 13.0% in the 1st quarter. 1832 Asset Management L.P. now owns 77,011 shares of the company’s stock valued at $2,362,000 after acquiring an additional 8,873 shares during the period. Mount Yale Investment Advisors LLC grew its position in shares of Keurig Dr Pepper by 163.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 73,097 shares of the company’s stock valued at $2,242,000 after acquiring an additional 45,362 shares during the period. Blackstone Inc. bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $19,936,000. Finally, Bayesian Capital Management LP bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $224,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on KDP shares. Royal Bank of Canada lifted their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Citigroup reduced their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Wells Fargo & Company reduced their target price on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.36.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $32.66 on Friday. The firm has a 50 day moving average of $35.20 and a 200-day moving average of $34.71. The stock has a market capitalization of $44.30 billion, a PE ratio of 19.79, a PEG ratio of 2.49 and a beta of 0.63. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $28.61 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. This is a boost 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 is currently 55.76%.

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.