Fmr LLC Purchases 9,105,164 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fmr LLC raised its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,183,144 shares of the company’s stock after purchasing an additional 9,105,164 shares during the quarter. Fmr LLC owned 7.53% of Keurig Dr Pepper worth $3,829,824,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KDP. Allspring Global Investments Holdings LLC lifted its holdings in Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after buying an additional 730,297 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after acquiring an additional 317,837 shares during the last quarter. Legal & General Group Plc increased its position in Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock valued at $333,057,000 after purchasing an additional 609,857 shares during the period. Bank of New York Mellon Corp raised its holdings in Keurig Dr Pepper by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company’s stock worth $238,163,000 after purchasing an additional 171,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Keurig Dr Pepper by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after purchasing an additional 1,878,597 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Trading Up 0.6 %

NASDAQ:KDP opened at $32.85 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The company has a market cap of $44.56 billion, a PE ratio of 19.91, a PEG ratio of 2.52 and a beta of 0.63. The firm has a 50-day moving average of $35.11 and a 200-day moving average of $34.71.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.80%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KDP shares. Royal Bank of Canada lifted their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group lowered their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Citigroup cut their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Barclays dropped their price target on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the transaction, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.