Geode Capital Management LLC Purchases 1,962,195 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Geode Capital Management LLC grew its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,511,039 shares of the company’s stock after buying an additional 1,962,195 shares during the quarter. Geode Capital Management LLC’s holdings in Keurig Dr Pepper were worth $784,974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its stake in Keurig Dr Pepper by 82.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at approximately $35,000. Whipplewood Advisors LLC bought a new stake in shares of Keurig Dr Pepper in the fourth quarter worth $37,000. Edmond DE Rothschild Holding S.A. acquired a new position in Keurig Dr Pepper during the fourth quarter worth $42,000. Finally, Brooklyn Investment Group grew its position in Keurig Dr Pepper by 34.0% in the fourth quarter. Brooklyn Investment Group now owns 2,184 shares of the company’s stock valued at $70,000 after purchasing an additional 554 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Keurig Dr Pepper

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

Keurig Dr Pepper Trading Up 0.5 %

Shares of NASDAQ:KDP opened at $35.14 on Thursday. Keurig Dr Pepper Inc. has a 12-month low of $30.12 and a 12-month high of $38.28. The business has a 50 day moving average of $32.91 and a 200-day moving average of $33.49. 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 stock has a market cap of $47.68 billion, a PE ratio of 21.30, a P/E/G ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. As a group, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is 87.62%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KDP shares. TD Cowen reduced their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $38.00 to $40.00 in a research report on Tuesday. Barclays set a $39.00 price target on Keurig Dr Pepper in a research note on Thursday, February 27th. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Finally, Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 target price for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.38.

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.