PNC Financial Services Group Inc. Boosts Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

PNC Financial Services Group Inc. grew its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 9.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 173,170 shares of the company’s stock after purchasing an additional 14,805 shares during the period. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $5,562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KDP. Ashton Thomas Securities LLC bought a new position in Keurig Dr Pepper during the third quarter valued at approximately $25,000. LRI Investments LLC bought a new position in Keurig Dr Pepper during the third quarter valued at approximately $35,000. Whipplewood Advisors LLC bought a new position in Keurig Dr Pepper during the fourth quarter valued at approximately $37,000. Brooklyn Investment Group bought a new position in Keurig Dr Pepper during the third quarter valued at approximately $61,000. Finally, R Squared Ltd bought a new position in Keurig Dr Pepper during the fourth quarter valued at approximately $70,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.05, for a total value of $408,600.00. Following the completion of the transaction, the insider now directly owns 187,537 shares of the company’s stock, valued at $6,385,634.85. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Robert James Gamgort sold 416,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the transaction, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,385,350 shares of company stock valued at $2,755,891,890. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Morgan Stanley increased their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper Stock Down 1.3 %

Shares of KDP stock opened at $32.81 on Thursday. The company has a market capitalization of $44.52 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a one year low of $28.62 and a one year high of $38.28. The company’s fifty day moving average price is $32.10 and its 200-day moving average price is $33.80. 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 (NASDAQ:KDP) last posted its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. Sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.80%. Keurig Dr Pepper’s payout ratio is 87.62%.

Keurig Dr Pepper 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.