PNC Financial Services Group Inc. Purchases 15,779 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

PNC Financial Services Group Inc. raised its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,365 shares of the company’s stock after purchasing an additional 15,779 shares during the period. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $5,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in Keurig Dr Pepper by 38.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,732 shares of the company’s stock worth $483,000 after acquiring an additional 4,351 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Keurig Dr Pepper by 13.0% during the first quarter. 1832 Asset Management L.P. now owns 77,011 shares of the company’s stock valued at $2,362,000 after buying an additional 8,873 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Keurig Dr Pepper by 163.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 73,097 shares of the company’s stock valued at $2,242,000 after buying an additional 45,362 shares during the period. Blackstone Inc. purchased a new stake in Keurig Dr Pepper during the first quarter worth $19,936,000. Finally, Bayesian Capital Management LP bought a new stake in Keurig Dr Pepper during the 1st quarter valued at $224,000. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Up 1.3 %

Shares of KDP stock opened at $32.66 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm has a market capitalization of $44.30 billion, a PE ratio of 19.79, a P/E/G ratio of 2.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The stock’s 50-day simple moving average is $35.20 and its 200-day simple moving average is $34.71.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.82%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KDP has been the subject of a number of analyst reports. Citigroup decreased their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Barclays lowered their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada boosted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Keurig Dr Pepper Company 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.