BNP Paribas Financial Markets Acquires 895,605 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

BNP Paribas Financial Markets raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 50.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,683,734 shares of the company’s stock after buying an additional 895,605 shares during the period. BNP Paribas Financial Markets’ holdings in Keurig Dr Pepper were worth $82,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Keurig Dr Pepper by 49.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,466,535 shares of the company’s stock valued at $48,880,000 after acquiring an additional 487,589 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Keurig Dr Pepper by 608.0% in the fourth quarter. Franklin Resources Inc. now owns 813,578 shares of the company’s stock valued at $27,108,000 after purchasing an additional 698,665 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Keurig Dr Pepper by 24.3% during the fourth quarter. DAVENPORT & Co LLC now owns 2,604,968 shares of the company’s stock valued at $86,820,000 after buying an additional 509,393 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Keurig Dr Pepper during the fourth quarter worth $3,616,000. Finally, Confluence Investment Management LLC bought a new stake in Keurig Dr Pepper during the first quarter worth $11,375,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

KDP traded down $0.06 during trading hours on Friday, hitting $32.66. The stock had a trading volume of 7,262,886 shares, compared to its average volume of 6,870,068. Keurig Dr Pepper Inc. has a 1 year low of $27.66 and a 1 year high of $35.00. The company’s fifty day simple moving average is $33.94 and its 200 day simple moving average is $32.10. The stock has a market cap of $44.27 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.47 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.52.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, April 25th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.86 dividend on an annualized basis and a yield of 2.63%. Keurig Dr Pepper’s payout ratio is 55.48%.

Analyst Ratings Changes

A number of equities analysts have issued reports on KDP shares. Truist Financial raised shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $27.00 to $34.00 in a report on Monday, June 17th. Jefferies Financial Group cut their price target on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Barclays lifted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. TD Cowen upped their target price on Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, BNP Paribas began coverage on Keurig Dr Pepper in a report on Monday, June 24th. They set a “neutral” rating and a $36.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and an average price target of $36.57.

Insiders Place Their Bets

In other news, insider Matthew Andrew Archambault sold 8,000 shares of Keurig Dr Pepper stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $34.19, for a total value of $273,520.00. Following the completion of the transaction, the insider now directly owns 12,565 shares in the company, valued at $429,597.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Angela A. Stephens sold 25,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $33.61, for a total transaction of $840,250.00. Following the transaction, the vice president now owns 76,081 shares in the company, valued at approximately $2,557,082.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Andrew Archambault sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $34.19, for a total value of $273,520.00. Following the transaction, the insider now owns 12,565 shares of the company’s stock, valued at approximately $429,597.35. The disclosure for this sale can be found here. Insiders have sold a total of 81,520 shares of company stock worth $2,750,739 over the last 90 days. Corporate insiders own 1.00% 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.