HBK Sorce Advisory LLC Boosts Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

HBK Sorce Advisory LLC raised its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 32.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,975 shares of the company’s stock after buying an additional 5,842 shares during the period. HBK Sorce Advisory LLC’s holdings in Keurig Dr Pepper were worth $820,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Keurig Dr Pepper by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock valued at $1,946,561,000 after buying an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $784,974,000 after acquiring an additional 1,962,195 shares during the last quarter. Finally, Invesco Ltd. lifted 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 valued at $693,972,000 after acquiring an additional 3,539,463 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KDP. Barclays raised their price objective on Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Hsbc Global Res raised Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Royal Bank Of Canada restated an “outperform” rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, UBS Group lifted their target price on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Insider Buying and Selling

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $33.64, for a total value of $403,680.00. Following the completion of the transaction, the insider now owns 106,511 shares in the company, valued at approximately $3,583,030.04. This represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert James Gamgort sold 208,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $33.96, for a total value of $7,063,680.00. Following the completion of the sale, the director now directly owns 3,054,490 shares of the company’s stock, valued at approximately $103,730,480.40. This trade represents a 6.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 698,500 shares of company stock valued at $23,594,400 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $32.98 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.47 and a quick ratio of 0.31. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48. The firm’s fifty day moving average price is $33.63 and its 200 day moving average price is $33.10. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. Keurig Dr Pepper’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.79%. Keurig Dr Pepper’s dividend payout ratio is currently 83.64%.

About Keurig Dr Pepper

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.