Allspring Global Investments Holdings LLC Boosts Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Allspring Global Investments Holdings LLC increased its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,318,743 shares of the company’s stock after purchasing an additional 730,297 shares during the period. Keurig Dr Pepper makes up about 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 9th biggest holding. Allspring Global Investments Holdings LLC owned approximately 1.13% of Keurig Dr Pepper worth $574,146,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Keurig Dr Pepper by 107.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after buying an additional 12,259,471 shares during the last quarter. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock worth $2,786,075,000 after acquiring an additional 7,825,418 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Keurig Dr Pepper by 41.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after buying an additional 1,878,597 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Keurig Dr Pepper during the second quarter valued at about $37,643,000. Finally, Armistice Capital LLC raised its position in shares of Keurig Dr Pepper by 186.3% in the 2nd quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after purchasing an additional 966,924 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $43.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Keurig Dr Pepper in a report on Friday, July 26th. TD Cowen increased their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Barclays increased their price objective on Keurig Dr Pepper from $37.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.21.

Keurig Dr Pepper Stock Up 1.2 %

Shares of Keurig Dr Pepper stock traded up $0.44 during midday trading on Friday, reaching $36.94. 9,535,641 shares of the company’s stock traded hands, compared to its average volume of 8,636,798. Keurig Dr Pepper Inc. has a 52 week low of $28.32 and a 52 week high of $38.28. The company’s 50 day simple moving average is $36.64 and its 200 day simple moving average is $34.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The company has a market cap of $50.07 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.49%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 59.35%.

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.