KLP Kapitalforvaltning AS Invests $12.71 Million in Keurig Dr Pepper Inc. (NASDAQ:KDP)

KLP Kapitalforvaltning AS bought a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 395,800 shares of the company’s stock, valued at approximately $12,713,000.

A number of other large investors have also modified their holdings of KDP. FMR LLC grew its holdings in shares of Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. State Street Corp grew its holdings in shares of Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. National Bank of Canada FI grew its holdings in shares of Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock valued at $91,908,000 after purchasing an additional 1,956,138 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at about $57,995,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at about $38,629,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KDP shares. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Morgan Stanley upped their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price objective for the company. Finally, Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the transaction, the chairman now directly owns 3,237,066 shares in the company, valued at $110,998,993.14. This represents a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now directly owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 84,397,350 shares of company stock valued at $2,756,292,570 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Stock Up 0.4 %

Shares of KDP opened at $33.55 on Monday. The stock has a market capitalization of $45.52 billion, a PE ratio of 20.33, a P/E/G ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 1 year low of $29.86 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The company’s 50-day simple moving average is $32.44 and its 200-day simple moving average is $33.63.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share 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 issued a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.74%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 87.62%.

Keurig Dr Pepper Company Profile

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.