Keurig Dr Pepper Inc. (NASDAQ:KDP) Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,813 shares of the company’s stock after buying an additional 32,703 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $6,091,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in KDP. Van ECK Associates Corp acquired a new stake in Keurig Dr Pepper in the 3rd quarter worth approximately $348,000. HighTower Advisors LLC lifted its holdings in Keurig Dr Pepper by 17.8% in the 3rd quarter. HighTower Advisors LLC now owns 35,359 shares of the company’s stock worth $1,114,000 after purchasing an additional 5,343 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Keurig Dr Pepper by 121.5% during the third quarter. Kestra Advisory Services LLC now owns 14,828 shares of the company’s stock worth $468,000 after buying an additional 8,134 shares during the last quarter. Korea Investment CORP lifted its holdings in shares of Keurig Dr Pepper by 0.6% during the third quarter. Korea Investment CORP now owns 480,783 shares of the company’s stock worth $15,178,000 after buying an additional 3,092 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Keurig Dr Pepper during the third quarter worth approximately $1,544,000. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Trading Up 1.9 %

NASDAQ:KDP opened at $34.69 on Tuesday. Keurig Dr Pepper Inc. has a 1-year low of $27.66 and a 1-year high of $35.00. The business’s 50-day moving average price is $33.30 and its two-hundred day moving average price is $31.97. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $47.02 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.57 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. Keurig Dr Pepper had a return on equity of 10.18% and a net margin of 14.52%. Keurig Dr Pepper’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.48%. Keurig Dr Pepper’s payout ratio is presently 55.48%.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 25,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $33.61, for a total transaction of $840,250.00. Following the completion of the transaction, the vice president now directly owns 76,081 shares in the company, valued at $2,557,082.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Keurig Dr Pepper news, VP Angela A. Stephens sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $33.61, for a total value of $840,250.00. Following the completion of the transaction, the vice president now directly owns 76,081 shares in the company, valued at $2,557,082.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Roger Frederick Johnson sold 31,227 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $33.82, for a total value of $1,056,097.14. Following the completion of the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $3,382,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,520 shares of company stock worth $2,750,739. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KDP shares. Morgan Stanley cut their price target on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Barclays upped their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Wedbush cut their target price on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Monday. Finally, TD Cowen upped their target price on Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus price target of $36.62.

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.