Allianz Asset Management GmbH Acquires 33,769 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Allianz Asset Management GmbH raised its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 46.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,700 shares of the company’s stock after buying an additional 33,769 shares during the period. Allianz Asset Management GmbH’s holdings in Keurig Dr Pepper were worth $3,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KDP. Price T Rowe Associates Inc. MD boosted its position in Keurig Dr Pepper by 36.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. Invesco Ltd. boosted its position in Keurig Dr Pepper by 19.6% in the fourth quarter. Invesco Ltd. now owns 21,605,610 shares of the company’s stock worth $693,972,000 after purchasing an additional 3,539,463 shares during the last quarter. Northern Trust Corp boosted its position in Keurig Dr Pepper by 20.6% in the fourth quarter. Northern Trust Corp now owns 13,598,633 shares of the company’s stock worth $436,788,000 after purchasing an additional 2,320,614 shares during the last quarter. Geode Capital Management LLC boosted its position in Keurig Dr Pepper by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company’s stock worth $784,974,000 after purchasing an additional 1,962,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 18.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,926,645 shares of the company’s stock worth $318,836,000 after buying an additional 1,548,622 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Insider Activity

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 14,500 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total transaction of $496,480.00. Following the completion of the sale, the vice president directly owned 62,411 shares in the company, valued at $2,136,952.64. The trade was a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the sale, the insider owned 82,511 shares of the company’s stock, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 490,500 shares of company stock worth $16,493,880 in the last three months. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, July 17th. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $40.00 in a report on Tuesday, April 1st. Barclays restated an “overweight” rating and set a $39.00 price objective (up previously from $37.00) on shares of Keurig Dr Pepper in a report on Monday. Finally, Piper Sandler upgraded shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.77.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $33.85 on Wednesday. The company has a 50 day moving average of $33.25 and a 200 day moving average of $33.30. The stock has a market cap of $45.98 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.40 and a beta of 0.47. Keurig Dr Pepper, Inc has a 12 month low of $30.12 and a 12 month high of $38.28. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. Keurig Dr Pepper’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.72%. Keurig Dr Pepper’s dividend payout ratio is currently 82.14%.

Keurig Dr Pepper 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.