Principal Financial Group Inc. Has $42.11 Million Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Principal Financial Group Inc. decreased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 55.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,311,139 shares of the company’s stock after selling 1,618,173 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Keurig Dr Pepper worth $42,114,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KDP. FMR LLC increased its holdings in shares of Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. State Street Corp increased its stake in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. National Bank of Canada FI increased its stake in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock valued at $91,908,000 after acquiring an additional 1,956,138 shares during the period. King Luther Capital Management Corp increased its stake in Keurig Dr Pepper by 125.5% in the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after acquiring an additional 767,298 shares during the period. Finally, Suvretta Capital Management LLC bought a new stake in Keurig Dr Pepper in the third quarter valued at about $26,352,000. Institutional investors own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KDP shares. Citigroup lowered their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler began coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price target for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Keurig Dr Pepper Stock Up 1.1 %

Shares of NASDAQ:KDP opened at $33.13 on Friday. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. 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 company has a market capitalization of $44.94 billion, a PE ratio of 20.08, a PEG ratio of 2.37 and a beta of 0.61. The company has a 50 day moving average price of $31.79 and a two-hundred day moving average price of $33.95.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the transaction, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

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.