Bryce Point Capital LLC Buys New Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bryce Point Capital LLC purchased a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 59,366 shares of the company’s stock, valued at approximately $1,907,000. Keurig Dr Pepper makes up about 0.6% of Bryce Point Capital LLC’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in shares of Keurig Dr Pepper by 38.4% during the 3rd quarter. Townsquare Capital LLC now owns 15,407 shares of the company’s stock valued at $577,000 after purchasing an additional 4,275 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Keurig Dr Pepper by 1.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,593 shares of the company’s stock valued at $1,072,000 after buying an additional 524 shares in the last quarter. Captrust Financial Advisors grew its holdings in Keurig Dr Pepper by 77.8% during the 3rd quarter. Captrust Financial Advisors now owns 54,941 shares of the company’s stock valued at $2,059,000 after buying an additional 24,034 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Keurig Dr Pepper in the 3rd quarter worth approximately $6,066,000. Finally, Benjamin Edwards Inc. raised its holdings in shares of Keurig Dr Pepper by 39.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 16,725 shares of the company’s stock worth $627,000 after acquiring an additional 4,691 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on KDP. Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Morgan Stanley upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $40.00 in a research report on Tuesday. Piper Sandler initiated coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, TD Cowen decreased their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.38.

Insiders Place Their Bets

In related news, Chairman Robert James Gamgort sold 416,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. This trade represents a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $33.39, for a total value of $400,680.00. Following the completion of the transaction, the insider now directly owns 178,511 shares of the company’s stock, valued at $5,960,482.29. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,397,350 shares of company stock valued at $2,756,292,570. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Trading Up 2.2 %

NASDAQ KDP opened at $34.97 on Wednesday. The stock has a market cap of $47.45 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $33.48.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.63%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 87.62%.

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.