HBK Sorce Advisory LLC Takes $714,000 Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

HBK Sorce Advisory LLC purchased a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,365 shares of the company’s stock, valued at approximately $714,000.

Several other large investors also recently bought and sold shares of KDP. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares during the last quarter. Blue Trust Inc. raised its stake in Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after purchasing an additional 643 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $35,000. Finally, Riverview Trust Co acquired a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

KDP has been the subject of several analyst reports. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their price objective for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price target on shares of Keurig Dr Pepper in a report on Friday, July 26th. UBS Group boosted their price objective on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 10th. Wells Fargo & Company lifted their price target on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Finally, Barclays reduced their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Keurig Dr Pepper Stock Up 1.5 %

Shares of NASDAQ:KDP opened at $37.61 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $37.69. The firm’s 50 day moving average price is $34.85 and its 200 day moving average price is $33.19. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The stock has a market cap of $51.00 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

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.