Suvretta Capital Management LLC Invests $26.35 Million in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Suvretta Capital Management LLC purchased a new stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 703,095 shares of the company’s stock, valued at approximately $26,352,000. Suvretta Capital Management LLC owned about 0.05% of Keurig Dr Pepper at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. Allspring Global Investments Holdings LLC grew its position in Keurig Dr Pepper by 5.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after buying an additional 730,297 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Keurig Dr Pepper by 2.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after buying an additional 317,837 shares during the period. Legal & General Group Plc raised its position in Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock worth $333,057,000 after buying an additional 609,857 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Keurig Dr Pepper by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company’s stock worth $238,163,000 after acquiring an additional 171,036 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Trading Down 0.2 %

Shares of Keurig Dr Pepper stock opened at $32.58 on Friday. The business has a 50 day moving average price of $34.82 and a 200 day moving average price of $34.67. The company has a market capitalization of $44.19 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.52 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. 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. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.82%. Keurig Dr Pepper’s payout ratio is 55.76%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KDP shares. Barclays reduced their price objective on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group reduced their price target on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 25th. Citigroup dropped their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.36.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction on 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 completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.