NewEdge Wealth LLC Increases Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

NewEdge Wealth LLC lifted its stake in Keurig Dr Pepper Inc. (NASDAQ:KDPFree Report) by 35.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,269 shares of the company’s stock after acquiring an additional 10,351 shares during the quarter. NewEdge Wealth LLC’s holdings in Keurig Dr Pepper were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of KDP. OFI Invest Asset Management acquired a new position in Keurig Dr Pepper in the 3rd quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in Keurig Dr Pepper by 973.8% in the 3rd quarter. Geneos Wealth Management Inc. now owns 902 shares of the company’s stock valued at $28,000 after acquiring an additional 818 shares during the period. Resurgent Financial Advisors LLC bought a new position in Keurig Dr Pepper in the 4th quarter valued at about $34,000. Huntington National Bank grew its position in shares of Keurig Dr Pepper by 60.4% during the 2nd quarter. Huntington National Bank now owns 1,229 shares of the company’s stock worth $38,000 after purchasing an additional 463 shares in the last quarter. Finally, Concord Wealth Partners grew its position in shares of Keurig Dr Pepper by 123.0% during the 2nd quarter. Concord Wealth Partners now owns 1,347 shares of the company’s stock worth $42,000 after purchasing an additional 743 shares in the last quarter. 52.29% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Up 0.2 %

NASDAQ KDP opened at $31.11 on Wednesday. The business’s fifty day simple moving average is $32.17 and its 200-day simple moving average is $32.09. The company has a quick ratio of 0.23, a current ratio of 0.39 and a debt-to-equity ratio of 0.39. The firm has a market cap of $43.50 billion, a PE ratio of 22.54, a P/E/G ratio of 2.42 and a beta of 0.67. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $36.23.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.76%. Keurig Dr Pepper’s dividend payout ratio is presently 62.32%.

Insider Buying and Selling

In related news, insider Monique Oxender bought 6,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were acquired at an average price of $32.72 per share, with a total value of $196,320.00. Following the completion of the acquisition, the insider now owns 56,848 shares in the company, valued at approximately $1,860,066.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KDP has been the subject of several research reports. Citigroup dropped their price objective on shares of Keurig Dr Pepper from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Jefferies Financial Group initiated coverage on shares of Keurig Dr Pepper in a report on Monday, November 13th. They issued a “buy” rating and a $39.00 price target for the company. Barclays lifted their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Sanford C. Bernstein lowered their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Finally, HSBC assumed coverage on shares of Keurig Dr Pepper in a research report on Friday, December 22nd. They issued a “hold” rating and a $37.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Get Our Latest Stock Report on KDP

About Keurig Dr Pepper

(Free Report)

Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. 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

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

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