MetLife Investment Management LLC Acquires 22,810 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

MetLife Investment Management LLC raised its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 8.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 297,892 shares of the company’s stock after acquiring an additional 22,810 shares during the period. MetLife Investment Management LLC’s holdings in Keurig Dr Pepper were worth $9,568,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Townsquare Capital LLC boosted its holdings in Keurig Dr Pepper by 2.1% in the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company’s stock worth $505,000 after purchasing an additional 327 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Keurig Dr Pepper by 1.2% in the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after buying an additional 342 shares during the last quarter. Barden Capital Management Inc. grew its holdings in shares of Keurig Dr Pepper by 0.9% in the fourth quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock worth $1,280,000 after acquiring an additional 353 shares during the period. Custom Index Systems LLC grew its holdings in shares of Keurig Dr Pepper by 5.3% in the fourth quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock worth $228,000 after acquiring an additional 357 shares during the period. Finally, First Hawaiian Bank increased its position in Keurig Dr Pepper by 5.2% during the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock valued at $250,000 after acquiring an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 0.3 %

KDP stock opened at $35.31 on Tuesday. The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.42 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 1-year low of $30.12 and a 1-year high of $38.28. The business has a 50 day simple moving average of $33.89 and a two-hundred day simple moving average of $33.22.

Keurig Dr Pepper (NASDAQ:KDP) last announced 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. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $0.55 EPS. Keurig Dr Pepper’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is presently 87.62%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KDP. Piper Sandler upgraded Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Argus started coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a “buy” rating and a $40.00 target price for the company. TD Cowen decreased their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $40.00 in a report on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.21.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the sale, the insider now directly owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $35.59, for a total value of $427,080.00. Following the transaction, the insider now owns 154,511 shares of the company’s stock, valued at approximately $5,499,046.49. The trade was a 7.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,421,350 shares of company stock worth $2,757,137,010 in the last three months. Insiders own 1.00% of the company’s stock.

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.