Gabelli Funds LLC Purchases 40,808 Shares of Keurig Dr Pepper, Inc $KDP

Gabelli Funds LLC grew its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 29.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,808 shares of the company’s stock after buying an additional 40,808 shares during the quarter. Gabelli Funds LLC’s holdings in Keurig Dr Pepper were worth $4,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Keurig Dr Pepper during the fourth quarter valued at $727,667,000. Norges Bank purchased a new stake in Keurig Dr Pepper in the fourth quarter worth about $568,361,000. Capital International Investors lifted its stake in Keurig Dr Pepper by 1,987.4% in the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock worth $472,193,000 after acquiring an additional 16,050,437 shares during the period. Wellington Management Group LLP grew its holdings in Keurig Dr Pepper by 37.0% during the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock worth $1,596,664,000 after acquiring an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Keurig Dr Pepper by 285.3% during the 4th quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock worth $325,925,000 after acquiring an additional 8,615,869 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on KDP shares. BNP Paribas Exane upgraded shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Citigroup boosted their price objective on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Evercore set a $30.00 target price on Keurig Dr Pepper in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.40.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock opened at $31.08 on Wednesday. The company has a market capitalization of $42.29 billion, a PE ratio of 23.02, a P/E/G ratio of 1.38 and a beta of 0.40. The company has a 50-day simple moving average of $30.95 and a two-hundred day simple moving average of $28.96. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. Keurig Dr Pepper’s dividend payout ratio is presently 68.15%.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.