Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,365 shares of the company’s stock after purchasing an additional 15,779 shares during the period. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $5,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. CX Institutional boosted its stake in shares of Keurig Dr Pepper by 3.6% in the third quarter. CX Institutional now owns 8,129 shares of the company’s stock worth $305,000 after acquiring an additional 283 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Keurig Dr Pepper by 3.6% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock worth $320,000 after purchasing an additional 300 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after buying an additional 301 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Keurig Dr Pepper by 21.8% during the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after buying an additional 314 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Keurig Dr Pepper by 29.0% in the second quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock worth $53,000 after buying an additional 392 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $32.66 on Friday. The firm has a 50-day simple moving average of $35.20 and a two-hundred day simple moving average of $34.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The stock has a market cap of $44.30 billion, a PE ratio of 19.79, a P/E/G ratio of 2.49 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio is 55.76%.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KDP. TD Cowen upped their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group reduced their price target on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.