Jupiter Asset Management Ltd. Acquires New Position in Keurig Dr Pepper, Inc $KDP

Jupiter Asset Management Ltd. bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 678,965 shares of the company’s stock, valued at approximately $17,320,000.

Several other institutional investors have also modified their holdings of the business. NewSquare Capital LLC increased its position in shares of Keurig Dr Pepper by 94.1% during the second quarter. NewSquare Capital LLC now owns 796 shares of the company’s stock worth $26,000 after acquiring an additional 386 shares during the period. AlphaCore Capital LLC purchased a new stake in Keurig Dr Pepper during the 2nd quarter worth about $26,000. Root Financial Partners LLC acquired a new stake in Keurig Dr Pepper in the 3rd quarter valued at about $26,000. Mather Group LLC. purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at about $30,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Keurig Dr Pepper by 71.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock worth $30,000 after buying an additional 484 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $32.00 in a report on Tuesday, December 16th. Barclays raised their price objective on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Wednesday, January 28th. Piper Sandler raised their price target on Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $35.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.87.

Insider Activity

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

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $29.54 on Friday. Keurig Dr Pepper, Inc has a 12 month low of $25.03 and a 12 month high of $36.12. The firm has a market capitalization of $40.13 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.99 and a beta of 0.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.38. The company’s fifty day moving average price is $28.13 and its 200 day moving average price is $28.37.

Keurig Dr Pepper Announces Dividend

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

Keurig Dr Pepper 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.