ICICI Prudential Asset Management Co Ltd Increases Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

ICICI Prudential Asset Management Co Ltd grew its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 18.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,703 shares of the company’s stock after acquiring an additional 2,812 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Keurig Dr Pepper were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CX Institutional increased its holdings in shares of Keurig Dr Pepper by 3.6% in the 3rd quarter. CX Institutional now owns 8,129 shares of the company’s stock valued at $305,000 after acquiring an additional 283 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Keurig Dr Pepper by 3.6% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock valued at $320,000 after acquiring an additional 300 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in shares of Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares during the period. Federated Hermes Inc. increased its holdings in shares of Keurig Dr Pepper by 21.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after acquiring an additional 314 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of Keurig Dr Pepper by 29.0% in the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after acquiring an additional 392 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KDP. Wells Fargo & Company cut their price target on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group dropped their target price on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. TD Cowen boosted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock traded up $0.14 during trading hours on Wednesday, hitting $33.48. 1,134,719 shares of the stock traded hands, compared to its average volume of 9,142,986. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The firm’s 50 day moving average price is $35.98 and its 200-day moving average price is $34.79. The stock has a market capitalization of $45.41 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.56 and a beta of 0.63. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.23 dividend. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.75%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.