20,291,351 Shares in Keurig Dr Pepper, Inc $KDP Bought by Norges Bank

Norges Bank bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,291,351 shares of the company’s stock, valued at approximately $568,361,000. Norges Bank owned about 1.49% of Keurig Dr Pepper as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in shares of Keurig Dr Pepper during the fourth quarter worth $26,000. Clearstead Trust LLC boosted its position in shares of Keurig Dr Pepper by 98.3% during the third quarter. Clearstead Trust LLC now owns 1,081 shares of the company’s stock worth $28,000 after acquiring an additional 536 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Keurig Dr Pepper by 71.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock worth $30,000 after acquiring an additional 484 shares during the last quarter. Activest Wealth Management boosted its position in shares of Keurig Dr Pepper by 5,642.1% during the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock worth $31,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in shares of Keurig Dr Pepper during the fourth quarter worth $31,000. Institutional investors own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Citigroup decreased their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Company decreased their price target on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Barclays upped their price target on shares of Keurig Dr Pepper from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.57.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $30.03 on Monday. The company has a market cap of $40.86 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.37 and a beta of 0.41. The firm’s fifty day moving average is $27.63 and its 200 day moving average is $27.99. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio is currently 68.15%.

Keurig Dr Pepper Company 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.