OFI Invest Asset Management Acquires New Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

OFI Invest Asset Management bought a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the 4th quarter, HoldingsChannel reports. The firm bought 1,245,330 shares of the company’s stock, valued at approximately $38,629,000. Keurig Dr Pepper accounts for 0.9% of OFI Invest Asset Management’s investment portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in shares of Keurig Dr Pepper by 11.8% during the third quarter. Janney Montgomery Scott LLC now owns 81,567 shares of the company’s stock worth $3,057,000 after buying an additional 8,624 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Keurig Dr Pepper by 79.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 18,057 shares of the company’s stock worth $677,000 after acquiring an additional 7,980 shares in the last quarter. Graypoint LLC bought a new position in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $233,000. Principal Financial Group Inc. raised its holdings in shares of Keurig Dr Pepper by 29.8% in the third quarter. Principal Financial Group Inc. now owns 2,929,312 shares of the company’s stock valued at $109,791,000 after purchasing an additional 672,664 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Keurig Dr Pepper by 5.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 74,730 shares of the company’s stock worth $2,801,000 after purchasing an additional 3,736 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Down 0.6 %

KDP opened at $33.34 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $28.62 and a 12 month high of $38.28. The company has a market cap of $45.23 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The company has a 50 day moving average of $32.05 and a 200 day moving average of $33.86.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 87.62%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Barclays set a $39.00 price target on Keurig Dr Pepper in a research note on Thursday, February 27th. Morgan Stanley upped their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 target price for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

Insiders Place Their Bets

In other news, VP Angela A. Stephens sold 7,350 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the transaction, the vice president now owns 74,587 shares in the company, valued at approximately $2,548,637.79. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.05, for a total value of $408,600.00. Following the completion of the sale, the insider now owns 187,537 shares of the company’s stock, valued at $6,385,634.85. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,385,350 shares of company stock valued at $2,755,891,890 in the last quarter. 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.