Westpac Banking Corp boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,460 shares of the company’s stock after purchasing an additional 34,930 shares during the period. Westpac Banking Corp’s holdings in Keurig Dr Pepper were worth $12,456,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of KDP. BlackRock Inc. lifted its stake in Keurig Dr Pepper by 20.7% in the first quarter. BlackRock Inc. now owns 30,392,977 shares of the company’s stock worth $1,044,605,000 after purchasing an additional 5,215,982 shares during the last quarter. Capital International Investors lifted its stake in Keurig Dr Pepper by 12.7% in the first quarter. Capital International Investors now owns 42,740,344 shares of the company’s stock worth $1,468,987,000 after purchasing an additional 4,829,553 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Keurig Dr Pepper by 52.7% in the first quarter. Neuberger Berman Group LLC now owns 8,901,966 shares of the company’s stock worth $305,781,000 after purchasing an additional 3,072,232 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Keurig Dr Pepper by 87.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,312,802 shares of the company’s stock worth $216,971,000 after purchasing an additional 2,941,107 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Keurig Dr Pepper by 108.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,496,696 shares of the company’s stock worth $120,181,000 after purchasing an additional 1,821,168 shares during the last quarter. 46.97% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on KDP. TheStreet raised shares of Keurig Dr Pepper from a “d” rating to a “b-” rating in a research note on Thursday, July 29th. Wells Fargo & Company raised shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $36.00 to $42.00 in a research note on Tuesday, June 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.17.
Shares of NASDAQ:KDP traded down $0.58 during midday trading on Friday, hitting $34.91. 18,132,829 shares of the stock traded hands, compared to its average volume of 5,130,639. Keurig Dr Pepper Inc. has a one year low of $26.67 and a one year high of $37.11. The company has a quick ratio of 0.25, a current ratio of 0.38 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $35.11 and its two-hundred day moving average is $35.15. The stock has a market capitalization of $49.49 billion, a PE ratio of 30.36, a P/E/G ratio of 2.48 and a beta of 0.69.
Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Keurig Dr Pepper had a net margin of 13.49% and a return on equity of 8.91%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 30th. Keurig Dr Pepper’s dividend payout ratio is currently 53.57%.
Keurig Dr Pepper Profile
Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
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