DnB Asset Management AS Buys 13,117 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

DnB Asset Management AS boosted its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,433 shares of the company’s stock after buying an additional 13,117 shares during the quarter. DnB Asset Management AS’s holdings in Keurig Dr Pepper were worth $5,253,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KDP. NuWave Investment Management LLC lifted its position in Keurig Dr Pepper by 912.6% during the 2nd quarter. NuWave Investment Management LLC now owns 4,992 shares of the company’s stock valued at $177,000 after purchasing an additional 4,499 shares during the period. Moody National Bank Trust Division acquired a new position in Keurig Dr Pepper in the second quarter valued at approximately $262,000. Fulton Bank N.A. boosted its stake in Keurig Dr Pepper by 4.4% in the second quarter. Fulton Bank N.A. now owns 14,320 shares of the company’s stock valued at $507,000 after acquiring an additional 597 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at $59,000. Finally, Bank of America Corp DE lifted its stake in shares of Keurig Dr Pepper by 113.4% in the 1st quarter. Bank of America Corp DE now owns 6,622,670 shares of the company’s stock valued at $250,999,000 after purchasing an additional 3,519,353 shares during the period. 52.29% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $37.17 on Monday. Keurig Dr Pepper Inc. has a 12-month low of $32.44 and a 12-month high of $41.31. The firm has a market capitalization of $52.64 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.15 and a beta of 0.61. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $38.79 and a 200-day moving average of $36.79.

Keurig Dr Pepper (NASDAQ:KDPGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Keurig Dr Pepper had a net margin of 16.39% and a return on equity of 9.15%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.69 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.20 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 29th. This represents a $0.80 annualized dividend and a dividend yield of 2.15%. Keurig Dr Pepper’s payout ratio is 49.34%.

Insider Activity

In related news, insider Maurice Anthony Milikin bought 12,979 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average cost of $35.75 per share, with a total value of $463,999.25. Following the purchase, the insider now owns 12,979 shares in the company, valued at $463,999.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Herbert Derek Hopkins sold 37,500 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $35.55, for a total value of $1,333,125.00. Following the completion of the transaction, the insider now directly owns 174,610 shares of the company’s stock, valued at approximately $6,207,385.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maurice Anthony Milikin bought 12,979 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, June 29th. The stock was bought at an average cost of $35.75 per share, with a total value of $463,999.25. Following the completion of the purchase, the insider now owns 12,979 shares in the company, valued at approximately $463,999.25. The disclosure for this purchase can be found here. In the last quarter, insiders bought 129,797 shares of company stock valued at $4,895,432 and sold 316,000 shares valued at $12,102,475. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group upped their price objective on Keurig Dr Pepper from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, August 1st. StockNews.com raised Keurig Dr Pepper from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Keurig Dr Pepper from $44.00 to $42.00 in a research note on Wednesday, July 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

Keurig Dr Pepper Profile

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.

Further Reading

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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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