Hennion & Walsh Asset Management Inc. Invests $248,000 in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Hennion & Walsh Asset Management Inc. bought a new stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 7,256 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds have also recently added to or reduced their stakes in KDP. Vanguard Group Inc. grew its position in Keurig Dr Pepper by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after buying an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock valued at $1,755,564,000 after buying an additional 14,473,054 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock valued at $681,579,000 after buying an additional 8,363,192 shares during the last quarter. Norges Bank purchased a new position in Keurig Dr Pepper in the 4th quarter valued at $197,819,000. Finally, Wellington Management Group LLP grew its position in Keurig Dr Pepper by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock valued at $1,946,561,000 after buying an additional 5,646,179 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Insider Activity

In other news, VP Angela A. Stephens sold 14,500 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following the sale, the vice president now directly owns 62,411 shares in the company, valued at $2,136,952.64. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total transaction of $395,040.00. Following the completion of the sale, the insider now owns 118,511 shares in the company, valued at $3,901,382.12. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 698,500 shares of company stock valued at $23,591,400. 0.40% of the stock is currently owned by insiders.

Keurig Dr Pepper Stock Up 0.6%

KDP opened at $32.97 on Tuesday. The business has a 50 day moving average price of $33.99 and a 200 day moving average price of $33.07. The firm has a market cap of $44.78 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a twelve month low of $30.12 and a twelve month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, June 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 83.64%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler raised Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their target price for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. Argus initiated coverage on Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a “buy” rating and a $40.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a report on Tuesday, April 22nd. Finally, UBS Group raised their target price on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

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.