DAVENPORT & Co LLC Has $86.82 Million Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

DAVENPORT & Co LLC increased its position in Keurig Dr Pepper Inc. (NASDAQ:KDPFree Report) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,604,968 shares of the company’s stock after purchasing an additional 509,393 shares during the period. DAVENPORT & Co LLC owned approximately 0.19% of Keurig Dr Pepper worth $86,820,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Keurig Dr Pepper in the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. grew its position in Keurig Dr Pepper by 973.8% in the 3rd quarter. Geneos Wealth Management Inc. now owns 902 shares of the company’s stock valued at $28,000 after purchasing an additional 818 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at $34,000. Bruce G. Allen Investments LLC acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at $34,000. Finally, First Manhattan Co. acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Royal Bank of Canada cut their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. HSBC assumed coverage on shares of Keurig Dr Pepper in a report on Friday, December 22nd. They set a “hold” rating and a $37.00 price objective on the stock. Wedbush cut their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, Barclays cut their price objective on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Check Out Our Latest Research Report on KDP

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded down $0.31 during midday trading on Tuesday, reaching $30.92. The company had a trading volume of 14,180,782 shares, compared to its average volume of 11,091,429. The company’s 50 day moving average price is $30.43 and its 200 day moving average price is $31.14. The company has a current ratio of 0.38, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The stock has a market cap of $42.90 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.33 and a beta of 0.66. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $35.99.

Keurig Dr Pepper (NASDAQ:KDPGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Keurig Dr Pepper had a return on equity of 9.93% and a net margin of 14.72%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, March 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Insider Activity

In other news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total transaction of $1,501,543,485.80. Following the sale, the insider now directly owns 331,487,357 shares in the company, valued at $9,579,984,617.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Keurig Dr Pepper news, Director Robert S. Singer sold 12,132 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the sale, the director now owns 37,643 shares of the company’s stock, valued at $1,101,057.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the completion of the sale, the insider now directly owns 331,487,357 shares of the company’s stock, valued at approximately $9,579,984,617.30. The disclosure for this sale can be found here. Insiders have sold a total of 100,012,132 shares of company stock worth $2,890,354,861 over the last ninety days. Company insiders own 0.81% of the company’s stock.

Keurig Dr Pepper Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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