Corebridge Financial Inc. Increases Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Corebridge Financial Inc. grew its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 457,490 shares of the company’s stock after purchasing an additional 3,550 shares during the quarter. Corebridge Financial Inc.’s holdings in Keurig Dr Pepper were worth $14,695,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in KDP. Raymond James Trust N.A. increased its holdings in shares of Keurig Dr Pepper by 4.6% in the 3rd quarter. Raymond James Trust N.A. now owns 18,082 shares of the company’s stock valued at $678,000 after acquiring an additional 798 shares during the period. Cerity Partners LLC increased its stake in Keurig Dr Pepper by 13.7% in the third quarter. Cerity Partners LLC now owns 142,822 shares of the company’s stock valued at $5,353,000 after purchasing an additional 17,172 shares during the period. Swedbank AB increased its stake in Keurig Dr Pepper by 57.7% in the third quarter. Swedbank AB now owns 733,823 shares of the company’s stock valued at $27,504,000 after purchasing an additional 268,555 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 9.9% in the third quarter. Summit Trail Advisors LLC now owns 20,493 shares of the company’s stock valued at $773,000 after buying an additional 1,854 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Keurig Dr Pepper by 12.4% during the third quarter. Daiwa Securities Group Inc. now owns 217,905 shares of the company’s stock worth $8,167,000 after buying an additional 23,957 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Insider Activity

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the purchase, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Robert James Gamgort sold 416,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the transaction, the chairman now owns 3,237,066 shares of the company’s stock, valued at approximately $110,998,993.14. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,397,350 shares of company stock worth $2,756,292,570 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on KDP. Piper Sandler assumed coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Morgan Stanley increased their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Keurig Dr Pepper Stock Down 0.1 %

Shares of NASDAQ KDP opened at $33.83 on Wednesday. The stock has a market capitalization of $45.90 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28. The firm has a 50-day moving average price of $32.55 and a 200 day moving average price of $33.59. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 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, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is 87.62%.

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.