Principal Financial Group Inc. grew its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 940,870 shares of the company’s stock after buying an additional 119,046 shares during the period. Principal Financial Group Inc. owned approximately 0.07% of Keurig Dr Pepper worth $32,140,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Knowledge Leaders Capital LLC raised its position in shares of Keurig Dr Pepper by 1.2% during the third quarter. Knowledge Leaders Capital LLC now owns 25,200 shares of the company’s stock worth $861,000 after purchasing an additional 300 shares during the period. Seeyond raised its position in shares of Keurig Dr Pepper by 0.3% during the second quarter. Seeyond now owns 143,965 shares of the company’s stock worth $5,073,000 after purchasing an additional 406 shares during the period. DeDora Capital Inc. raised its position in Keurig Dr Pepper by 2.6% in the 3rd quarter. DeDora Capital Inc. now owns 18,148 shares of the company’s stock valued at $620,000 after buying an additional 455 shares during the last quarter. HighTower Advisors LLC raised its position in Keurig Dr Pepper by 1.9% in the 2nd quarter. HighTower Advisors LLC now owns 25,392 shares of the company’s stock valued at $896,000 after buying an additional 463 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in Keurig Dr Pepper by 2.6% in the 3rd quarter. Perigon Wealth Management LLC now owns 21,913 shares of the company’s stock valued at $749,000 after buying an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 52.77% of the company’s stock.
In other news, insider Herbert Derek Hopkins sold 68,347 shares of the stock in a transaction that occurred on Wednesday, December 22nd. The stock was sold at an average price of $35.56, for a total value of $2,430,419.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Singer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,347 shares of company stock worth $2,971,569. 1.00% of the stock is owned by company insiders.
Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, October 28th. The company reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. Keurig Dr Pepper had a return on equity of 9.10% and a net margin of 13.94%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.6 EPS for the current fiscal year.
Keurig Dr Pepper declared that its board has approved a share buyback program on Friday, October 1st that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 20th. Investors of record on Thursday, January 6th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, January 5th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 61.98%.
A number of research analysts have weighed in on KDP shares. Royal Bank of Canada raised their price target on Keurig Dr Pepper from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, October 29th. Barclays lifted their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, November 1st. Zacks Investment Research upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research note on Friday, November 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Keurig Dr Pepper from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, September 20th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Buy” and an average price target of $38.44.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
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