Mirae Asset Global Investments Co. Ltd. Raises Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 22.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 301,215 shares of the company’s stock after acquiring an additional 55,015 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Keurig Dr Pepper were worth $11,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its stake in shares of Keurig Dr Pepper by 57.7% during 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. Commonwealth Equity Services LLC lifted its stake in shares of Keurig Dr Pepper by 254.6% in the first quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock worth $2,941,000 after acquiring an additional 68,840 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Keurig Dr Pepper in the first quarter worth about $512,000. FORA Capital LLC purchased a new position in shares of Keurig Dr Pepper during the 1st quarter valued at approximately $4,519,000. Finally, TCW Group Inc. grew its position in shares of Keurig Dr Pepper by 5.9% during the second quarter. TCW Group Inc. now owns 391,379 shares of the company’s stock worth $13,072,000 after buying an additional 21,726 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $34.58 on Monday. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The firm has a market capitalization of $46.88 billion, a PE ratio of 22.31, a P/E/G ratio of 2.73 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The business’s fifty day moving average price is $36.73 and its two-hundred day moving average price is $34.67.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm posted $0.48 EPS. Keurig Dr Pepper’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.66%. Keurig Dr Pepper’s payout ratio is currently 59.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KDP shares. JPMorgan Chase & Co. reduced their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group reduced their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday. Citigroup lowered their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, TD Cowen boosted their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.50.

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.