DNB Asset Management AS Buys 22,693 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

DNB Asset Management AS increased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,466 shares of the company’s stock after purchasing an additional 22,693 shares during the quarter. DNB Asset Management AS’s holdings in Keurig Dr Pepper were worth $7,531,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KDP. Morningstar Investment Management LLC boosted its stake in Keurig Dr Pepper by 1.1% in the fourth quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock valued at $1,051,000 after acquiring an additional 328 shares during the last quarter. Kentucky Retirement Systems boosted its stake in Keurig Dr Pepper by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 80,555 shares of the company’s stock valued at $2,684,000 after acquiring an additional 344 shares during the last quarter. US Bancorp DE boosted its stake in Keurig Dr Pepper by 0.4% in the fourth quarter. US Bancorp DE now owns 121,107 shares of the company’s stock valued at $4,035,000 after acquiring an additional 503 shares during the last quarter. Marco Investment Management LLC raised its holdings in Keurig Dr Pepper by 2.7% in the fourth quarter. Marco Investment Management LLC now owns 20,650 shares of the company’s stock worth $688,000 after purchasing an additional 550 shares during the period. Finally, Mckinley Capital Management LLC raised its holdings in Keurig Dr Pepper by 1.6% in the first quarter. Mckinley Capital Management LLC now owns 37,112 shares of the company’s stock worth $1,138,000 after purchasing an additional 595 shares during the period. 85.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KDP shares. Wells Fargo & Company increased their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $34.00 in a report on Monday, June 17th. UBS Group raised their price objective on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price objective on shares of Keurig Dr Pepper in a report on Friday, July 26th. Finally, Barclays dropped their price objective on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Stock Up 0.5 %

Keurig Dr Pepper stock traded up $0.18 during mid-day trading on Tuesday, reaching $34.48. The company’s stock had a trading volume of 7,355,030 shares, compared to its average volume of 9,262,380. The company has a market capitalization of $46.74 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62. Keurig Dr Pepper Inc. has a 12 month low of $27.66 and a 12 month high of $35.53. The business’s 50 day simple moving average is $33.65 and its 200 day simple moving average is $32.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, June 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.48%.

Insider Activity

In other news, insider Matthew Andrew Archambault sold 8,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $34.19, for a total value of $273,520.00. Following the completion of the transaction, the insider now owns 12,565 shares of the company’s stock, valued at approximately $429,597.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.