Wealthfront Advisers LLC Boosts Position in Keurig Dr Pepper, Inc $KDP

Wealthfront Advisers LLC grew its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 60.9% during the 3rd quarter, Holdings Channel reports. The fund owned 206,685 shares of the company’s stock after purchasing an additional 78,193 shares during the period. Wealthfront Advisers LLC’s holdings in Keurig Dr Pepper were worth $5,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Keurig Dr Pepper by 9.8% during the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after purchasing an additional 14,244,768 shares during the period. State Street Corp raised its stake in shares of Keurig Dr Pepper by 11.2% during the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after buying an additional 6,412,494 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Keurig Dr Pepper by 43.2% in the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock valued at $1,040,320,000 after buying an additional 9,494,503 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Keurig Dr Pepper by 13.5% in the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after buying an additional 3,595,579 shares during the period. Finally, Norges Bank purchased a new stake in shares of Keurig Dr Pepper in the second quarter worth about $568,525,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Insider Transactions at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the sale, the vice president owned 54,200 shares of the company’s stock, valued at $1,599,984. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KDP has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Barclays boosted their target price on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Wednesday, January 28th. Piper Sandler increased their target price on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group lowered Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $32.00 in a research note on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.87.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $29.91 on Friday. The stock has a market capitalization of $40.64 billion, a P/E ratio of 25.78, a PEG ratio of 2.05 and a beta of 0.34. The business has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $28.53. Keurig Dr Pepper, Inc has a 12 month low of $25.03 and a 12 month high of $36.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.38.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 79.31%.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.