Perpetual Ltd Acquires 372,097 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Perpetual Ltd lifted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 73.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 876,578 shares of the company’s stock after buying an additional 372,097 shares during the quarter. Perpetual Ltd’s holdings in Keurig Dr Pepper were worth $28,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KDP. Ashton Thomas Securities LLC acquired a new stake in Keurig Dr Pepper in the 3rd quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at approximately $35,000. Hexagon Capital Partners LLC increased its holdings in shares of Keurig Dr Pepper by 105.6% in the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock valued at $39,000 after purchasing an additional 530 shares in the last quarter. Federated Hermes Inc. raised its position in Keurig Dr Pepper by 21.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after purchasing an additional 314 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Keurig Dr Pepper during the 3rd quarter worth $61,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup lowered their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler assumed coverage on Keurig Dr Pepper in a report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Keurig Dr Pepper Trading Up 1.1 %

Shares of NASDAQ KDP opened at $31.62 on Tuesday. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. The stock has a market cap of $42.89 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.20 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $32.25 and its 200-day moving average is $34.20.

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

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a dividend of $0.23 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. Keurig Dr Pepper’s payout ratio is 55.76%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.