Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 83.3% in the 2nd quarter, Holdings Channel reports. The fund owned 73,440 shares of the company’s stock after purchasing an additional 33,375 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Keurig Dr Pepper were worth $2,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hamlin Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 7.7% during the 2nd quarter. Hamlin Capital Management LLC now owns 3,267,074 shares of the company’s stock valued at $115,622,000 after buying an additional 232,211 shares during the period. Carmel Capital Partners LLC grew its stake in shares of Keurig Dr Pepper by 37.8% during the 2nd quarter. Carmel Capital Partners LLC now owns 14,580 shares of the company’s stock valued at $516,000 after buying an additional 4,000 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Keurig Dr Pepper by 20.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 172,947 shares of the company’s stock valued at $6,120,000 after buying an additional 29,650 shares during the period. DnB Asset Management AS grew its stake in shares of Keurig Dr Pepper by 9.7% during the 2nd quarter. DnB Asset Management AS now owns 148,433 shares of the company’s stock valued at $5,253,000 after buying an additional 13,117 shares during the period. Finally, NuWave Investment Management LLC grew its stake in shares of 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 buying an additional 4,499 shares during the period. 52.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on KDP. UBS Group boosted their price objective on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. StockNews.com upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Keurig Dr Pepper from $44.00 to $42.00 in a report on Wednesday, July 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $37.11 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $52.55 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.17 and a beta of 0.61. The firm’s fifty day simple moving average is $38.72 and its 200 day simple moving average is $36.85. Keurig Dr Pepper Inc. has a twelve month low of $32.44 and a twelve month high of $41.31.

Keurig Dr Pepper (NASDAQ:KDPGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.39 earnings per share 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 business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.69 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.19. Keurig Dr Pepper’s payout ratio is currently 49.34%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 275,000 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $38.67, for a total value of $10,634,250.00. Following the transaction, the chairman now owns 4,253,186 shares in the company, valued at approximately $164,470,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Maurice Anthony Milikin bought 12,979 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were acquired at an average price of $39.85 per share, for a total transaction of $517,213.15. Following the purchase, the insider now owns 90,853 shares in the company, valued at approximately $3,620,492.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Robert James Gamgort sold 275,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $38.67, for a total transaction of $10,634,250.00. Following the completion of the sale, the chairman now owns 4,253,186 shares in the company, valued at approximately $164,470,702.62. The disclosure for this sale can be found here. In the last quarter, insiders have bought 129,797 shares of company stock worth $4,895,432 and have sold 316,000 shares worth $12,102,475. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Company 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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