Bank of New York Mellon Corp Has $234.63 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bank of New York Mellon Corp increased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,304,769 shares of the company’s stock after acquiring an additional 342,715 shares during the period. Bank of New York Mellon Corp’s holdings in Keurig Dr Pepper were worth $234,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in Keurig Dr Pepper during the third quarter worth about $2,557,000. International Assets Investment Management LLC raised its holdings in shares of Keurig Dr Pepper by 6,430.6% in the 3rd quarter. International Assets Investment Management LLC now owns 114,351 shares of the company’s stock worth $4,286,000 after buying an additional 112,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Keurig Dr Pepper by 47.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,177 shares of the company’s stock worth $869,000 after buying an additional 7,477 shares during the period. Nisa Investment Advisors LLC boosted its stake in Keurig Dr Pepper by 19.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 106,485 shares of the company’s stock valued at $4,016,000 after buying an additional 16,997 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in Keurig Dr Pepper by 17.0% in the third quarter. First Trust Direct Indexing L.P. now owns 43,006 shares of the company’s stock valued at $1,612,000 after acquiring an additional 6,253 shares during the period. Institutional investors own 93.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KDP. Piper Sandler initiated coverage on Keurig Dr Pepper in a report on Tuesday. They set a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. TD Cowen decreased their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper Trading Down 0.4 %

KDP stock opened at $33.60 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. The company has a market cap of $45.57 billion, a P/E ratio of 20.36, a PEG ratio of 2.42 and a beta of 0.61. The business has a fifty day moving average of $31.91 and a 200-day moving average of $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. As a group, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. Keurig Dr Pepper’s payout ratio is presently 55.76%.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This represents a 1.69 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

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.