Keurig Dr Pepper Inc. (NYSE:KDP) Shares Acquired by Fifth Third Bancorp
Fifth Third Bancorp grew its holdings in Keurig Dr Pepper Inc. (NYSE:KDP) by 17,588.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,315 shares of the company’s stock after purchasing an additional 157,420 shares during the quarter. Fifth Third Bancorp’s holdings in Keurig Dr Pepper were worth $4,369,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Tobam boosted its position in Keurig Dr Pepper by 971.0% during the second quarter. Tobam now owns 118,279 shares of the company’s stock worth $3,359,000 after acquiring an additional 107,235 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Keurig Dr Pepper by 154.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 72,890 shares of the company’s stock worth $2,012,000 after acquiring an additional 44,242 shares during the last quarter. Usca Ria LLC boosted its position in Keurig Dr Pepper by 54.2% during the third quarter. Usca Ria LLC now owns 39,841 shares of the company’s stock worth $1,100,000 after acquiring an additional 14,000 shares during the last quarter. Nissay Asset Management Corp Japan ADV acquired a new stake in Keurig Dr Pepper during the second quarter worth approximately $1,020,000. Finally, Virtu Financial LLC acquired a new stake in Keurig Dr Pepper during the second quarter worth approximately $268,000. Institutional investors and hedge funds own 31.12% of the company’s stock.
In other news, Director Mondelez International, Inc. sold 40,000,000 shares of the firm’s stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $28.30, for a total value of $1,132,000,000.00. Following the transaction, the director now owns 118,218,223 shares of the company’s stock, valued at approximately $3,345,575,710.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings B.V. Jab sold 20,000,000 shares of the firm’s stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $28.30, for a total transaction of $566,000,000.00. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
Keurig Dr Pepper (NYSE:KDP) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. Keurig Dr Pepper had a net margin of 10.32% and a return on equity of 7.91%. Keurig Dr Pepper’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Research analysts forecast that Keurig Dr Pepper Inc. will post 1.4 earnings per share for the current fiscal year.
KDP has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on shares of Keurig Dr Pepper from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and set a $34.00 target price on the stock in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Keurig Dr Pepper has a consensus rating of “Buy” and a consensus target price of $33.83.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment provides single-serve brewing systems and specialty coffee to home, offices, restaurants, cafeterias, convenience stores, and hotels, as well as produces and sells range of other specialty beverages in K-Cup pods, such as hot and iced teas, hot cocoa, and other beverages.
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