BlackRock Inc. Has $1.15 Billion Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

BlackRock Inc. boosted its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 10.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,607,887 shares of the company’s stock after buying an additional 3,167,455 shares during the period. BlackRock Inc.’s holdings in Keurig Dr Pepper were worth $1,148,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Knowledge Leaders Capital LLC boosted its stake in Keurig Dr Pepper by 1.2% in the third quarter. Knowledge Leaders Capital LLC now owns 25,200 shares of the company’s stock worth $861,000 after purchasing an additional 300 shares in the last quarter. Seeyond boosted its position in shares of Keurig Dr Pepper by 0.3% during the second quarter. Seeyond now owns 143,965 shares of the company’s stock worth $5,073,000 after buying an additional 406 shares during the period. DeDora Capital Inc. boosted its position in shares of Keurig Dr Pepper by 2.6% during the third quarter. DeDora Capital Inc. now owns 18,148 shares of the company’s stock worth $620,000 after buying an additional 455 shares during the period. HighTower Advisors LLC boosted its position in shares of Keurig Dr Pepper by 1.9% during the second quarter. HighTower Advisors LLC now owns 25,392 shares of the company’s stock worth $896,000 after buying an additional 463 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in shares of Keurig Dr Pepper by 2.6% during the third quarter. Perigon Wealth Management LLC now owns 21,913 shares of the company’s stock worth $749,000 after buying an additional 548 shares during the period. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Keurig Dr Pepper stock opened at $39.28 on Friday. Keurig Dr Pepper Inc. has a one year low of $30.28 and a one year high of $39.35. The firm has a market capitalization of $55.70 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.72 and a beta of 0.71. The business has a 50-day simple moving average of $35.91 and a 200 day simple moving average of $35.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.41 and a quick ratio of 0.27.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 28th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. Keurig Dr Pepper had a return on equity of 9.10% and a net margin of 13.94%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.6 EPS for the current year.

Keurig Dr Pepper announced that its Board of Directors has initiated a share repurchase plan on Friday, October 1st that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 20th. Investors of record on Thursday, January 6th will be paid a $0.1875 dividend. The ex-dividend date is Wednesday, January 5th. This represents a $0.75 annualized dividend and a yield of 1.91%. Keurig Dr Pepper’s payout ratio is 61.98%.

In related news, insider Herbert Derek Hopkins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $35.51, for a total value of $177,550.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 83,347 shares of company stock worth $2,971,569. 1.00% of the stock is owned by company insiders.

Several research firms have issued reports on KDP. Zacks Investment Research upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research note on Friday, November 12th. 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 note on Monday, September 20th. Barclays raised their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, November 1st. Finally, Royal Bank of Canada raised their target price on Keurig Dr Pepper from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $38.44.

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.

Read More: What is the market perform rating?

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper Inc. (NASDAQ:KDP).

Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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