Fifth Third Bancorp Grows Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fifth Third Bancorp increased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 27.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,636 shares of the company’s stock after buying an additional 10,762 shares during the period. Fifth Third Bancorp’s holdings in Keurig Dr Pepper were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KDP. LaFleur & Godfrey LLC purchased a new stake in Keurig Dr Pepper during the fourth quarter worth about $806,000. Empowered Funds LLC raised its position in Keurig Dr Pepper by 12.2% during the fourth quarter. Empowered Funds LLC now owns 20,060 shares of the company’s stock worth $644,000 after acquiring an additional 2,188 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Keurig Dr Pepper by 5.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 570,010 shares of the company’s stock worth $18,394,000 after acquiring an additional 30,751 shares during the last quarter. Vontobel Holding Ltd. raised its position in Keurig Dr Pepper by 1.0% during the fourth quarter. Vontobel Holding Ltd. now owns 154,065 shares of the company’s stock worth $4,949,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in Keurig Dr Pepper by 4.2% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 591,514 shares of the company’s stock worth $18,999,000 after acquiring an additional 23,743 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $33.02 on Monday. Keurig Dr Pepper Inc. has a 1 year low of $30.12 and a 1 year high of $38.28. The firm has a 50 day moving average price of $33.90 and a 200 day moving average price of $33.08. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 20.01, a PEG 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 (NASDAQ:KDP) last released its earnings results 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 firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. Keurig Dr Pepper’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. Keurig Dr Pepper’s payout ratio is 83.64%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director De Ven Michael G. Van acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was bought at an average cost of $33.20 per share, for a total transaction of $498,000.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $498,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $32.92, for a total transaction of $395,040.00. Following the sale, the insider now owns 118,511 shares of the company’s stock, valued at approximately $3,901,382.12. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 698,500 shares of company stock worth $23,591,400. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KDP shares. Argus started coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a “buy” rating and a $40.00 target price for the company. Piper Sandler upgraded shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $40.00 in a research report on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Finally, Barclays boosted their price objective on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.