Arden Trust Co boosted its position in shares of Keurig Dr Pepper Inc. (NYSE:KDP) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,890 shares of the company’s stock after purchasing an additional 523 shares during the period. Arden Trust Co’s holdings in Keurig Dr Pepper were worth $521,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BDT Capital Partners LLC acquired a new stake in Keurig Dr Pepper in the second quarter valued at approximately $2,437,146,000. Capital International Investors raised its holdings in shares of Keurig Dr Pepper by 217.9% during the 1st quarter. Capital International Investors now owns 21,100,960 shares of the company’s stock valued at $512,121,000 after purchasing an additional 14,463,379 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Keurig Dr Pepper by 26.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,405,068 shares of the company’s stock valued at $551,105,000 after purchasing an additional 4,050,421 shares during the last quarter. Swiss National Bank bought a new stake in Keurig Dr Pepper in the second quarter worth $39,510,000. Finally, Eminence Capital LP acquired a new position in Keurig Dr Pepper during the second quarter worth $39,046,000. Hedge funds and other institutional investors own 31.12% of the company’s stock.
A number of brokerages have weighed in on KDP. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and set a $34.00 price target for the company in a research report on Wednesday, August 26th. Jefferies Financial Group boosted their target price on Keurig Dr Pepper from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Goldman Sachs Group upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their price target for the company from $27.00 to $33.00 in a report on Thursday, July 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.83.
Keurig Dr Pepper (NYSE:KDP) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Keurig Dr Pepper had a return on equity of 7.91% and a net margin of 10.32%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the business earned $0.30 earnings per share. Keurig Dr Pepper’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Keurig Dr Pepper Inc. will post 1.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a $0.15 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.60 annualized dividend and a yield of 2.02%. Keurig Dr Pepper’s dividend payout ratio is 49.18%.
In related news, major shareholder Holdings B.V. Jab sold 45,000,000 shares of Keurig Dr Pepper stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $29.00, for a total transaction of $1,305,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mondelez International, Inc. sold 14,071,962 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.45, for a total value of $414,419,280.90. Following the transaction, the director now owns 170,725,048 shares in the company, valued at $5,027,852,663.60. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment provides single-serve brewing systems and specialty coffee to home, offices, restaurants, cafeterias, convenience stores, and hotels, as well as produces and sells range of other specialty beverages in K-Cup pods, such as hot and iced teas, hot cocoa, and other beverages.
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