Golden State Equity Partners Raises Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Golden State Equity Partners grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,320 shares of the company’s stock after purchasing an additional 3,554 shares during the period. Golden State Equity Partners’ holdings in Keurig Dr Pepper were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KDP. Creative Planning increased its stake in shares of Keurig Dr Pepper by 73.6% during the second quarter. Creative Planning now owns 65,691 shares of the company’s stock worth $2,194,000 after buying an additional 27,860 shares during the period. Truist Financial Corp increased its stake in shares of Keurig Dr Pepper by 169.3% during the second quarter. Truist Financial Corp now owns 238,251 shares of the company’s stock worth $7,958,000 after buying an additional 149,776 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Keurig Dr Pepper during the second quarter worth approximately $2,564,000. AMF Tjanstepension AB purchased a new stake in shares of Keurig Dr Pepper during the third quarter worth approximately $2,557,000. Finally, Czech National Bank increased its stake in shares of Keurig Dr Pepper by 8.3% during the third quarter. Czech National Bank now owns 215,474 shares of the company’s stock worth $8,076,000 after buying an additional 16,570 shares during the period. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KDP shares. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a “neutral” rating and a $35.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. UBS Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Jefferies Financial Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Keurig Dr Pepper Price Performance

KDP stock opened at $32.54 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The business has a 50 day simple moving average of $32.11 and a 200-day simple moving average of $34.14. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. The company has a market capitalization of $44.14 billion, a P/E ratio of 19.72, a PEG ratio of 2.24 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, January 3rd. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the acquisition, the insider now directly owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

About Keurig Dr Pepper

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.