Verition Fund Management LLC Grows Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Verition Fund Management LLC increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 476,519 shares of the company’s stock after buying an additional 7,365 shares during the period. Verition Fund Management LLC’s holdings in Keurig Dr Pepper were worth $17,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KDP. Auxier Asset Management boosted its stake in shares of Keurig Dr Pepper by 1.2% in the 3rd quarter. Auxier Asset Management now owns 67,406 shares of the company’s stock worth $2,526,000 after buying an additional 802 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Keurig Dr Pepper by 77.8% in the third quarter. Captrust Financial Advisors now owns 54,941 shares of the company’s stock valued at $2,059,000 after acquiring an additional 24,034 shares during the period. Suvretta Capital Management LLC purchased a new position in Keurig Dr Pepper in the third quarter worth about $26,352,000. Vinva Investment Management Ltd grew its stake in shares of Keurig Dr Pepper by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 40,347 shares of the company’s stock valued at $1,510,000 after purchasing an additional 1,170 shares during the period. Finally, Public Sector Pension Investment Board increased its position in shares of Keurig Dr Pepper by 39.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,171,557 shares of the company’s stock valued at $43,910,000 after purchasing an additional 332,500 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling 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 that occurred 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 directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Barclays lowered their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Stock Up 0.2 %

Shares of KDP opened at $32.65 on Friday. The business’s 50 day moving average is $34.72 and its 200 day moving average is $34.66. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a market capitalization of $44.29 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

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

About Keurig Dr Pepper

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.