Fifth Third Bancorp Raises Position in Keurig Dr Pepper, Inc $KDP

Fifth Third Bancorp grew its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 555.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,343 shares of the company’s stock after acquiring an additional 169,765 shares during the period. Fifth Third Bancorp’s holdings in Keurig Dr Pepper were worth $5,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Candriam S.C.A. raised its stake in Keurig Dr Pepper by 33.4% during the 1st quarter. Candriam S.C.A. now owns 160,562 shares of the company’s stock valued at $4,228,000 after purchasing an additional 40,158 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Keurig Dr Pepper by 5.2% in the first quarter. Sequoia Financial Advisors LLC now owns 34,072 shares of the company’s stock valued at $897,000 after purchasing an additional 1,699 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Keurig Dr Pepper by 28.3% in the first quarter. Kornitzer Capital Management Inc. KS now owns 137,022 shares of the company’s stock valued at $3,608,000 after purchasing an additional 30,240 shares in the last quarter. Equitable Trust Co. increased its holdings in shares of Keurig Dr Pepper by 30.8% in the 1st quarter. Equitable Trust Co. now owns 21,216 shares of the company’s stock worth $559,000 after buying an additional 4,990 shares during the last quarter. Finally, Demars Financial Group LLC purchased a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at about $363,000. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Down 1.5%

NASDAQ:KDP opened at $30.91 on Friday. The firm has a market capitalization of $42.05 billion, a P/E ratio of 22.90, a PEG ratio of 1.43 and a beta of 0.40. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94. The company’s fifty day moving average price is $30.79 and its 200-day moving average price is $28.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper’s payout ratio is 68.15%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company set a $37.00 price target on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Weiss Ratings upgraded Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. BNP Paribas Exane upgraded Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a report on Wednesday, April 22nd. Evercore set a $30.00 target price on Keurig Dr Pepper in a report on Friday, April 24th. Finally, Citigroup increased their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.07.

About Keurig Dr Pepper

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.