PNC Financial Services Group Inc. Purchases 14,805 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

PNC Financial Services Group Inc. raised its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,170 shares of the company’s stock after purchasing an additional 14,805 shares during the period. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $5,562,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at $37,000. Brooklyn Investment Group purchased a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at $61,000. Finally, R Squared Ltd purchased a new position in Keurig Dr Pepper in the 4th quarter worth $70,000. 93.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.05, for a total transaction of $408,600.00. Following the sale, the insider now directly owns 187,537 shares in the company, valued at $6,385,634.85. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,385,350 shares of company stock valued at $2,755,891,890 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Down 1.3 %

Shares of KDP opened at $32.81 on Thursday. The firm’s 50-day moving average price is $32.10 and its 200-day moving average price is $33.80. The firm has a market capitalization of $44.52 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.42 and a beta of 0.62. 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 1-year low of $28.62 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is currently 87.62%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KDP. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Morgan Stanley lifted 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. Finally, Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.