Allspring Global Investments Holdings LLC Has $506.90 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,213,050 shares of the company’s stock after purchasing an additional 1,518,286 shares during the period. Keurig Dr Pepper accounts for about 0.8% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 12th biggest position. Allspring Global Investments Holdings LLC owned 1.09% of Keurig Dr Pepper worth $506,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Achmea Investment Management B.V. increased its position in shares of Keurig Dr Pepper by 0.8% during the third quarter. Achmea Investment Management B.V. now owns 38,847 shares of the company’s stock valued at $1,226,000 after acquiring an additional 324 shares during the last quarter. Unison Advisors LLC increased its position in Keurig Dr Pepper by 0.6% in the third quarter. Unison Advisors LLC now owns 58,582 shares of the company’s stock worth $1,862,000 after buying an additional 369 shares during the last quarter. Operose Advisors LLC increased its position in Keurig Dr Pepper by 28.7% in the third quarter. Operose Advisors LLC now owns 1,673 shares of the company’s stock worth $53,000 after buying an additional 373 shares during the last quarter. Baird Financial Group Inc. increased its position in Keurig Dr Pepper by 0.4% in the first quarter. Baird Financial Group Inc. now owns 92,573 shares of the company’s stock worth $3,508,000 after buying an additional 401 shares during the last quarter. Finally, Retirement Guys Formula LLC increased its position in Keurig Dr Pepper by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 14,708 shares of the company’s stock worth $464,000 after buying an additional 444 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada decreased their target price on Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Wedbush cut their price target on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Barclays cut their price target on Keurig Dr Pepper from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. HSBC assumed coverage on Keurig Dr Pepper in a report on Friday, December 22nd. They issued a “hold” rating and a $37.00 price target for the company. Finally, Morgan Stanley cut their price target on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Keurig Dr Pepper Price Performance

KDP stock traded up $0.03 during mid-day trading on Monday, hitting $30.80. 6,350,651 shares of the stock were exchanged, compared to its average volume of 10,890,608. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.38 and a quick ratio of 0.25. The business has a fifty day moving average price of $30.39 and a 200 day moving average price of $31.08. Keurig Dr Pepper Inc. has a 12 month low of $27.66 and a 12 month high of $35.99. The stock has a market capitalization of $42.74 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.34 and a beta of 0.66.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 9.93% and a net margin of 14.72%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

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 issued a $0.215 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.86 annualized dividend and a dividend yield of 2.79%. Keurig Dr Pepper’s dividend payout ratio is currently 55.48%.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the completion of the transaction, the insider now directly owns 331,487,357 shares in the company, valued at approximately $9,579,984,617.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.90, for a total transaction of $1,501,543,485.80. Following the completion of the transaction, the insider now directly owns 331,487,357 shares of the company’s stock, valued at approximately $9,579,984,617.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Priyadarshi Sudhanshu purchased 85,910 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $29.10 per share, with a total value of $2,499,981.00. Following the completion of the transaction, the chief financial officer now owns 218,566 shares in the company, valued at $6,360,270.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 100,012,132 shares of company stock worth $2,890,354,861. Company insiders own 0.81% of the company’s stock.

Keurig Dr Pepper Company 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.