Horizon Investments LLC Increases Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Horizon Investments LLC grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,216 shares of the company’s stock after purchasing an additional 411 shares during the period. Horizon Investments LLC’s holdings in Keurig Dr Pepper were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares in the last quarter. State Street Corp raised its position in shares of Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the last quarter. National Bank of Canada FI boosted its stake in Keurig Dr Pepper by 394.3% in the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Keurig Dr Pepper during the 4th quarter valued at about $57,995,000. Finally, OFI Invest Asset Management bought a new stake in Keurig Dr Pepper during the 4th quarter valued at about $38,629,000. 93.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Robert James Gamgort sold 416,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. This trade represents a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the purchase, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 84,385,350 shares of company stock worth $2,755,891,890. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KDP. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Morgan Stanley boosted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. TD Cowen dropped their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Finally, Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.23.

Keurig Dr Pepper Trading Down 0.4 %

NASDAQ KDP opened at $33.47 on Thursday. The firm has a market cap of $45.41 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52 week low of $29.29 and a 52 week high of $38.28. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $32.33 and a 200 day moving average price of $33.70.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

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.