Meiji Yasuda Asset Management Co Ltd. Increases Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,614 shares of the company’s stock after buying an additional 2,650 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Keurig Dr Pepper were worth $1,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Zions Bancorporation N.A. grew its position in Keurig Dr Pepper by 49.9% during the 4th quarter. Zions Bancorporation N.A. now owns 20,639 shares of the company’s stock worth $663,000 after purchasing an additional 6,870 shares during the period. Prudential Financial Inc. grew its holdings in Keurig Dr Pepper by 5.5% during the fourth quarter. Prudential Financial Inc. now owns 3,435,311 shares of the company’s stock worth $110,342,000 after acquiring an additional 179,067 shares during the period. ICW Investment Advisors LLC raised its position in Keurig Dr Pepper by 4.5% during the fourth quarter. ICW Investment Advisors LLC now owns 35,689 shares of the company’s stock valued at $1,146,000 after acquiring an additional 1,548 shares in the last quarter. Corebridge Financial Inc. boosted its position in Keurig Dr Pepper by 0.8% in the 4th quarter. Corebridge Financial Inc. now owns 457,490 shares of the company’s stock worth $14,695,000 after purchasing an additional 3,550 shares in the last quarter. Finally, United Services Automobile Association grew its stake in shares of Keurig Dr Pepper by 4.1% during the 4th quarter. United Services Automobile Association now owns 23,889 shares of the company’s stock worth $767,000 after purchasing an additional 941 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Up 0.7 %

Shares of KDP opened at $34.06 on Thursday. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28. The stock has a market cap of $46.21 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The firm’s fifty day moving average is $32.61 and its two-hundred day moving average is $33.59. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Keurig Dr Pepper’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%. Keurig Dr Pepper’s payout ratio is 87.62%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a report on Thursday, February 27th. Morgan Stanley lifted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. TD Cowen cut their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler initiated coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.23.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the sale, the insider now owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. The trade was a 38.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the transaction, the vice president now owns 74,587 shares of the company’s stock, valued at $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,397,350 shares of company stock valued at $2,756,292,570. Insiders own 1.00% of the company’s stock.

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.