CIBC Asset Management Inc Raises Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

CIBC Asset Management Inc increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,744 shares of the company’s stock after purchasing an additional 22,052 shares during the quarter. CIBC Asset Management Inc’s holdings in Keurig Dr Pepper were worth $15,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB boosted its position in Keurig Dr Pepper by 57.7% during the third quarter. Swedbank AB now owns 733,823 shares of the company’s stock worth $27,504,000 after purchasing an additional 268,555 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Keurig Dr Pepper in the first quarter valued at about $512,000. TCW Group Inc. increased its stake in shares of Keurig Dr Pepper by 5.9% during the 2nd quarter. TCW Group Inc. now owns 391,379 shares of the company’s stock worth $13,072,000 after purchasing an additional 21,726 shares in the last quarter. Curi RMB Capital LLC raised its position in shares of Keurig Dr Pepper by 9.4% during the 3rd quarter. Curi RMB Capital LLC now owns 628,042 shares of the company’s stock worth $23,539,000 after purchasing an additional 54,167 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Keurig Dr Pepper in the 2nd quarter valued at approximately $275,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction 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 sale, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Price Performance

KDP stock opened at $31.66 on Friday. The company has a market cap of $42.95 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $35.73 and a two-hundred day moving average price of $34.76. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $0.48 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.76%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KDP shares. Citigroup dropped their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and an average target price of $38.36.

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.