Mirae Asset Global Investments Co. Ltd. Purchases 1,043,645 Shares of Keurig Dr Pepper, Inc $KDP

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,043,645 shares of the company’s stock, valued at approximately $31,664,000.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in shares of Keurig Dr Pepper by 358.0% in the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock worth $26,000 after acquiring an additional 759 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $29,000. Fortitude Family Office LLC boosted its holdings in Keurig Dr Pepper by 216.2% during the 3rd quarter. Fortitude Family Office LLC now owns 1,565 shares of the company’s stock valued at $47,000 after acquiring an additional 1,070 shares during the period. Root Financial Partners LLC purchased a new position in Keurig Dr Pepper during the 3rd quarter valued at $54,000. Finally, Mather Group LLC. boosted its holdings in Keurig Dr Pepper by 54.9% during the 3rd quarter. Mather Group LLC. now owns 1,816 shares of the company’s stock valued at $55,000 after acquiring an additional 644 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Insider Transactions at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total transaction of $390,600.00. Following the sale, the insider owned 84,171 shares of the company’s stock, valued at $2,739,766.05. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Angela A. Stephens sold 9,500 shares of Keurig Dr Pepper stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total value of $310,650.00. Following the completion of the transaction, the vice president owned 55,786 shares in the company, valued at $1,824,202.20. This trade represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

KDP has been the subject of several research analyst reports. Bank of America lifted their target price on Keurig Dr Pepper from $35.00 to $38.00 in a research report on Friday, July 10th. Piper Sandler restated an “overweight” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 14th. Citigroup raised their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley assumed coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They set an “overweight” rating and a $38.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.12.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $36.82 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The firm’s 50 day moving average price is $32.54 and its 200-day moving average price is $30.03. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $36.95. The company has a market cap of $50.11 billion, a PE ratio of 37.19, a P/E/G ratio of 1.66 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper’s revenue was up 75.6% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.30 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.5%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 92.93%.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.