Norges Bank Makes New $197.82 Million Investment in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Norges Bank acquired a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,158,748 shares of the company’s stock, valued at approximately $197,819,000.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Keurig Dr Pepper by 8.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock worth $100,796,000 after acquiring an additional 242,315 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock worth $10,400,000 after purchasing an additional 112,819 shares during the period. Franklin Resources Inc. increased its holdings in Keurig Dr Pepper by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after buying an additional 41,466 shares during the period. Swedbank AB raised its stake in shares of Keurig Dr Pepper by 1.8% in the 4th quarter. Swedbank AB now owns 747,002 shares of the company’s stock valued at $23,994,000 after buying an additional 13,179 shares in the last quarter. Finally, RWC Asset Management LLP boosted its position in shares of Keurig Dr Pepper by 34.6% during the 4th quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock valued at $49,885,000 after acquiring an additional 398,916 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $33.39, for a total transaction of $400,680.00. Following the transaction, the insider now directly owns 178,511 shares in the company, valued at approximately $5,960,482.29. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the sale, the insider now directly owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,397,350 shares of company stock worth $2,756,292,570. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $33.74 on Monday. Keurig Dr Pepper Inc. has a 1 year low of $30.12 and a 1 year high of $38.28. The company’s 50-day moving average is $32.72 and its two-hundred day moving average is $33.52. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $45.78 billion, a PE ratio of 20.45, a PEG ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 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 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KDP shares. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Piper Sandler initiated coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price objective for the company. TD Cowen reduced their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Morgan Stanley increased their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.23.

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.