Bank of New York Mellon Corp Grows Position in Keurig Dr Pepper, Inc $KDP

Bank of New York Mellon Corp grew its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,703,984 shares of the company’s stock after acquiring an additional 142,765 shares during the quarter. Bank of New York Mellon Corp owned 0.57% of Keurig Dr Pepper worth $254,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KDP. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Keurig Dr Pepper by 108.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after buying an additional 20,196,835 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Keurig Dr Pepper by 981.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,514,608 shares of the company’s stock worth $86,050,000 after buying an additional 2,282,050 shares during the last quarter. Seven Grand Managers LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $51,330,000. Finally, Armistice Capital LLC purchased a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at about $37,632,000. 93.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on KDP. Deutsche Bank Aktiengesellschaft dropped their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Jefferies Financial Group set a $41.00 target price on Keurig Dr Pepper in a report on Monday, August 25th. HSBC restated a “hold” rating and set a $30.00 price target (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Bank of America dropped their price objective on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Hsbc Global Res downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.27.

Keurig Dr Pepper Stock Down 0.7%

NASDAQ:KDP opened at $26.46 on Wednesday. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43. Keurig Dr Pepper, Inc has a twelve month low of $25.03 and a twelve month high of $36.12. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $27.17 and a 200-day simple moving average of $31.33.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.23 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.5%. Keurig Dr Pepper’s payout ratio is presently 79.31%.

Insider Buying and Selling

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 7,601 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total transaction of $272,951.91. Following the transaction, the director directly owned 2,284,568 shares in the company, valued at $82,038,836.88. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

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.