Bank of New York Mellon Corp Buys 223,160 Shares of Keurig Dr Pepper, Inc $KDP

Bank of New York Mellon Corp lifted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,927,144 shares of the company’s stock after purchasing an additional 223,160 shares during the period. Bank of New York Mellon Corp owned 0.58% of Keurig Dr Pepper worth $202,221,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KDP. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 9.8% in the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after acquiring an additional 14,244,768 shares during the last quarter. State Street Corp increased its stake in shares of Keurig Dr Pepper by 11.2% during the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after purchasing an additional 6,412,494 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Keurig Dr Pepper by 43.2% in the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock valued at $1,040,320,000 after purchasing an additional 9,494,503 shares during the period. Geode Capital Management LLC lifted its stake in Keurig Dr Pepper by 13.5% in the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares during the last quarter. Finally, Norges Bank bought a new position in Keurig Dr Pepper during the second quarter worth about $568,525,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the sale, the vice president directly owned 54,200 shares in the company, valued at approximately $1,599,984. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Trading Up 2.3%

Shares of Keurig Dr Pepper stock opened at $27.44 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. The firm has a 50-day moving average of $27.98 and a 200-day moving average of $28.83. Keurig Dr Pepper, Inc has a 52-week low of $25.03 and a 52-week high of $36.12. The stock has a market cap of $37.28 billion, a PE ratio of 23.66, a PEG ratio of 1.85 and a beta of 0.34.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, January 2nd. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KDP. Wells Fargo & Company upped their price objective on Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Jefferies Financial Group cut Keurig Dr Pepper from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $32.00 in a research note on Tuesday, December 16th. Barclays raised their price target on Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Piper Sandler increased their price objective on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, UBS Group restated a “buy” rating and set a $35.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.87.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.