Forvis Mazars Wealth Advisors LLC Buys 5,494 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Forvis Mazars Wealth Advisors LLC boosted its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,237 shares of the company’s stock after acquiring an additional 5,494 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Keurig Dr Pepper were worth $939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $25,000. LRI Investments LLC bought a new position in Keurig Dr Pepper in the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in Keurig Dr Pepper during the third quarter valued at approximately $61,000. R Squared Ltd bought a new stake in Keurig Dr Pepper during the fourth quarter worth $70,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of Keurig Dr Pepper by 52.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,997 shares of the company’s stock valued at $75,000 after purchasing an additional 684 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KDP. Barclays dropped their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. UBS Group dropped their price objective on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen decreased their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock opened at $34.04 on Monday. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.42 and a beta of 0.61. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. The company’s fifty day moving average is $31.80 and its 200 day moving average is $33.94. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Insider Buying and Selling at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the transaction, the insider now owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.