The Manufacturers Life Insurance Company Decreases Stock Holdings in Keurig Dr Pepper, Inc $KDP

The Manufacturers Life Insurance Company lessened its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,085 shares of the company’s stock after selling 78,038 shares during the period. The Manufacturers Life Insurance Company’s holdings in Keurig Dr Pepper were worth $18,618,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Keurig Dr Pepper by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company’s stock valued at $4,508,456,000 after buying an additional 1,538,456 shares during the period. State Street Corp increased its holdings in shares of Keurig Dr Pepper by 1.6% during the third quarter. State Street Corp now owns 64,594,706 shares of the company’s stock valued at $1,662,361,000 after acquiring an additional 986,700 shares in the last quarter. Wellington Management Group LLP raised its holdings in Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock worth $1,596,664,000 after buying an additional 15,393,753 shares during the last quarter. Geode Capital Management LLC raised its holdings in Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company’s stock worth $887,021,000 after acquiring an additional 1,187,457 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Keurig Dr Pepper in the fourth quarter worth $727,667,000. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Trading Down 1.4%

Shares of KDP opened at $31.12 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The firm has a market capitalization of $42.34 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.42 and a beta of 0.40. The company has a 50-day moving average of $31.10 and a 200 day moving average of $29.03. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94.

Keurig Dr Pepper Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KDP. UBS Group boosted their price objective on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Barclays raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $30.00 to $36.00 in a research note on Thursday, June 25th. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research note on Wednesday, July 8th. Evercore set a $30.00 price target on Keurig Dr Pepper in a report on Friday, April 24th. Finally, Zacks Research cut shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.40.

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.