Gabelli Funds LLC Grows Stock Position in Keurig Dr Pepper, Inc $KDP

Gabelli Funds LLC lifted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 29.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 180,808 shares of the company’s stock after acquiring an additional 40,808 shares during the period. Gabelli Funds LLC’s holdings in Keurig Dr Pepper were worth $4,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in shares of Keurig Dr Pepper in the fourth quarter worth about $26,000. Meeder Asset Management Inc. boosted its position in Keurig Dr Pepper by 358.0% in the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 759 shares in the last quarter. Activest Wealth Management grew its stake in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock worth $31,000 after purchasing an additional 1,072 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper during the 4th quarter worth approximately $31,000. Finally, Rossby Financial LCC increased its holdings in shares of Keurig Dr Pepper by 45.1% during the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock valued at $31,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KDP shares. Barclays upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Zacks Research cut shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. BNP Paribas Exane upgraded shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Eight equities research 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 has a consensus rating of “Hold” and an average target price of $33.40.

Keurig Dr Pepper Trading Up 3.2%

Shares of NASDAQ:KDP opened at $31.08 on Wednesday. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The business’s 50 day moving average price is $30.95 and its 200-day moving average price is $28.96. 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, Inc has a 1 year low of $24.88 and a 1 year high of $35.94.

Keurig Dr Pepper Announces Dividend

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

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.