Norges Bank Buys Shares of 17,196,767 Keurig Dr Pepper, Inc $KDP

Norges Bank purchased a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,196,767 shares of the company’s stock, valued at approximately $568,525,000. Norges Bank owned about 1.27% of Keurig Dr Pepper as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Keurig Dr Pepper by 9.8% in the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after purchasing an additional 14,244,768 shares in the last quarter. JPMorgan Chase & Co. grew its position in Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock valued at $1,330,565,000 after purchasing an additional 20,196,835 shares in the last quarter. Geode Capital Management LLC increased its stake in Keurig Dr Pepper by 13.5% in the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after buying an additional 3,595,579 shares during the last quarter. Invesco Ltd. increased its stake in Keurig Dr Pepper by 1.7% in the 1st quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock valued at $751,920,000 after buying an additional 367,518 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Keurig Dr Pepper by 0.8% during the 1st quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock worth $469,248,000 after buying an additional 114,044 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KDP. HSBC restated a “hold” rating and issued a $30.00 price objective (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Bank of America dropped their target price on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. BNP Paribas downgraded Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research note on Monday, September 22nd. The Goldman Sachs Group lowered their price target on Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Citigroup dropped their price objective on Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.27.

Keurig Dr Pepper Trading Up 0.8%

Keurig Dr Pepper stock opened at $27.91 on Friday. The stock has a 50-day simple moving average of $26.79 and a 200 day simple moving average of $30.44. The stock has a market capitalization of $37.91 billion, a P/E ratio of 24.06, a PEG ratio of 1.75 and a beta of 0.43. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.40 and a current ratio of 0.62. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Monday, October 27th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.92 annualized dividend and a yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 79.31%.

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.