Keurig Dr Pepper Inc. (NASDAQ:KDP) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,378,207 shares of the company’s stock after acquiring an additional 59,464 shares during the period. Keurig Dr Pepper comprises about 0.8% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 14th biggest holding. Allspring Global Investments Holdings LLC’s holdings in Keurig Dr Pepper were worth $488,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position 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 holdings in shares of Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. National Bank of Canada FI increased its holdings in shares of Keurig Dr Pepper by 394.3% in the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after acquiring an additional 1,956,138 shares during the period. King Luther Capital Management Corp lifted its position in Keurig Dr Pepper by 125.5% in the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after purchasing an additional 767,298 shares during the last quarter. Finally, Suvretta Capital Management LLC acquired a new position in Keurig Dr Pepper during the 3rd quarter valued at about $26,352,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KDP has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Barclays cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group dropped their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler began coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a “neutral” rating and a $35.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and an average target price of $37.50.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the transaction, the insider now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $31.56 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The business’s 50-day moving average price is $31.95 and its two-hundred day moving average price is $34.07. The company has a market capitalization of $42.81 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. Keurig Dr Pepper’s payout ratio is 55.76%.

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.