Norges Bank Acquires New Shares in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Norges Bank purchased a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,158,748 shares of the company’s stock, valued at approximately $197,819,000. Norges Bank owned 0.45% of Keurig Dr Pepper as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares during the period. State Street Corp increased its position in shares of Keurig Dr Pepper by 10.9% during the 3rd 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. JPMorgan Chase & Co. raised its stake in shares of Keurig Dr Pepper by 32.3% in the 4th quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company’s stock worth $600,189,000 after buying an additional 4,562,128 shares in the last quarter. National Bank of Canada FI lifted 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 buying an additional 1,956,138 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Keurig Dr Pepper during the fourth quarter valued at about $57,995,000. Institutional investors own 93.99% of the company’s stock.

Insider Buying and Selling at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.05, for a total value of $408,600.00. Following the transaction, the insider now owns 187,537 shares in the company, valued at $6,385,634.85. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert James Gamgort sold 416,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $110,998,993.14. This trade represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,397,350 shares of company stock worth $2,756,292,570 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $33.74 on Monday. Keurig Dr Pepper Inc. has a fifty-two week low of $30.12 and a fifty-two week high of $38.28. The stock’s 50-day moving average is $32.72 and its two-hundred day moving average is $33.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a market cap of $45.78 billion, a P/E ratio of 20.45, a PEG ratio of 2.42 and a beta of 0.62.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler began coverage on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target for the company. Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a report on Thursday, February 27th. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Morgan Stanley raised their price objective 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus target price of $38.23.

Keurig Dr Pepper 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.