TD Asset Management Inc. boosted its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,296 shares of the company’s stock after purchasing an additional 3,188 shares during the quarter. TD Asset Management Inc.’s holdings in Keurig Dr Pepper were worth $6,296,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in KDP. FMR LLC boosted its stake in Keurig Dr Pepper by 14.3% during the 2nd quarter. FMR LLC now owns 28,040,471 shares of the company’s stock valued at $988,146,000 after purchasing an additional 3,497,721 shares during the period. Blackstone Inc bought a new stake in Keurig Dr Pepper during the 2nd quarter valued at approximately $116,292,000. Capital International Investors boosted its stake in Keurig Dr Pepper by 5.5% during the 2nd quarter. Capital International Investors now owns 45,086,484 shares of the company’s stock valued at $1,588,848,000 after purchasing an additional 2,346,140 shares during the period. State Street Corp boosted its stake in Keurig Dr Pepper by 18.6% during the 2nd quarter. State Street Corp now owns 14,738,396 shares of the company’s stock valued at $522,095,000 after purchasing an additional 2,310,842 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in Keurig Dr Pepper during the 2nd quarter valued at approximately $80,074,000. Hedge funds and other institutional investors own 52.77% of the company’s stock.
A number of brokerages have commented on KDP. Zacks Investment Research upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a research report on Friday, November 12th. Royal Bank of Canada raised their price objective on Keurig Dr Pepper from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Barclays raised their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Keurig Dr Pepper from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, September 20th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $38.44.
Keurig Dr Pepper stock opened at $39.28 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.41 and a quick ratio of 0.27. The company has a market capitalization of $55.70 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.69 and a beta of 0.71. Keurig Dr Pepper Inc. has a one year low of $30.28 and a one year high of $39.35. The business has a 50 day simple moving average of $35.91 and a 200 day simple moving average of $35.31.
Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, October 28th. The company reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.16 billion. Keurig Dr Pepper had a return on equity of 9.10% and a net margin of 13.94%. Keurig Dr Pepper’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 20th. Investors of record on Thursday, January 6th will be issued a dividend of $0.1875 per share. The ex-dividend date is Wednesday, January 5th. This represents a $0.75 dividend on an annualized basis and a yield of 1.91%. Keurig Dr Pepper’s dividend payout ratio is 61.98%.
Keurig Dr Pepper announced that its board has approved a stock buyback plan on Friday, October 1st that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
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