Bank of New York Mellon Corp Boosts Stock Holdings in Keurig Dr Pepper, Inc $KDP

Bank of New York Mellon Corp grew its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,703,984 shares of the company’s stock after buying an additional 142,765 shares during the quarter. Bank of New York Mellon Corp’s holdings in Keurig Dr Pepper were worth $254,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after buying an additional 25,425,644 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Keurig Dr Pepper by 108.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after acquiring an additional 20,196,835 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Keurig Dr Pepper by 1.7% during the 1st quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock worth $751,920,000 after purchasing an additional 367,518 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Keurig Dr Pepper by 0.8% during the 1st quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock worth $469,248,000 after purchasing an additional 114,044 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Keurig Dr Pepper by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company’s stock valued at $351,927,000 after purchasing an additional 358,350 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Jefferies Financial Group set a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Monday, August 25th. BNP Paribas cut shares of Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research report on Monday, September 22nd. Barclays lifted their price target on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Finally, Cowen reiterated a “hold” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.27.

Insider Buying and Selling

In other news, Director Robert James Gamgort sold 7,601 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director directly owned 2,284,568 shares of the company’s stock, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $26.46 on Wednesday. The business has a fifty day moving average of $27.17 and a 200 day moving average of $31.33. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.40. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.5%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 79.31%.

Keurig Dr Pepper Company Profile

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.