Everence Capital Management Inc. Invests $617,000 in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Everence Capital Management Inc. acquired a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,470 shares of the company’s stock, valued at approximately $617,000.

A number of other hedge funds also recently bought and sold shares of KDP. Price T Rowe Associates Inc. MD grew its stake in Keurig Dr Pepper by 107.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock worth $725,487,000 after buying an additional 12,259,471 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Keurig Dr Pepper by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after purchasing an additional 7,825,418 shares during the period. Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after buying an additional 1,878,597 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth about $37,643,000. Finally, Armistice Capital LLC grew its position in shares of Keurig Dr Pepper by 186.3% during the 2nd quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after acquiring an additional 966,924 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KDP. Deutsche Bank Aktiengesellschaft upped their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Barclays increased their target price on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $43.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, BNP Paribas started coverage on shares of Keurig Dr Pepper in a research report on Monday, June 24th. They issued a “neutral” rating and a $36.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.21.

Keurig Dr Pepper Trading Down 0.0 %

KDP opened at $36.93 on Tuesday. The firm has a market capitalization of $50.06 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.62. The company’s 50 day simple moving average is $36.69 and its two-hundred day simple moving average is $34.53. Keurig Dr Pepper Inc. has a 1-year low of $28.32 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. Analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.49%. Keurig Dr Pepper’s payout ratio is 59.35%.

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.