Mackenzie Financial Corp Purchases 23,619 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Mackenzie Financial Corp boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,554 shares of the company’s stock after acquiring an additional 23,619 shares during the quarter. Mackenzie Financial Corp’s holdings in Keurig Dr Pepper were worth $13,775,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock valued at $1,755,564,000 after purchasing an additional 14,473,054 shares in the last quarter. Geode Capital Management LLC lifted its stake in Keurig Dr Pepper by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company’s stock valued at $784,974,000 after purchasing an additional 1,962,195 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 valued at $693,972,000 after buying an additional 3,539,463 shares in the last quarter. Northern Trust Corp grew its stake in shares of Keurig Dr Pepper by 20.6% during the fourth quarter. Northern Trust Corp now owns 13,598,633 shares of the company’s stock worth $436,788,000 after buying an additional 2,320,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KDP has been the topic of several recent research reports. Argus assumed coverage on Keurig Dr Pepper in a report on Wednesday, April 16th. They set a “buy” rating and a $40.00 price objective on the stock. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $42.00 in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. UBS Group dropped their price objective on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Piper Sandler raised shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.77.

Keurig Dr Pepper Price Performance

KDP stock opened at $33.82 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.47 and a beta of 0.47. The company’s fifty day simple moving average is $33.26 and its 200 day simple moving average is $33.31. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

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

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction 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 transaction, the vice president directly owned 62,411 shares of the company’s stock, valued at $2,136,952.64. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction 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 completion of the sale, the insider directly owned 82,511 shares of the company’s stock, valued at approximately $2,777,320.26. This trade represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 282,500 shares of company stock worth $9,396,920. Corporate insiders own 0.40% of the company’s stock.

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.