Truist Financial Corp Has $8.65 Million Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Truist Financial Corp cut its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,183 shares of the company’s stock after selling 21,085 shares during the period. Truist Financial Corp’s holdings in Keurig Dr Pepper were worth $8,646,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its position in Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the last quarter. State Street Corp increased its holdings in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. Geode Capital Management LLC increased its holdings in shares of Keurig Dr Pepper by 2.7% during the third quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock worth $841,886,000 after purchasing an additional 591,316 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Keurig Dr Pepper by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,378,207 shares of the company’s stock worth $488,463,000 after purchasing an additional 59,464 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Keurig Dr Pepper by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,007,549 shares of the company’s stock worth $225,163,000 after purchasing an additional 150,202 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KDP. Citigroup lowered their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. TD Cowen lowered their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 25th. UBS Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $34.04 on Friday. The firm’s fifty day moving average price is $31.80 and its two-hundred day moving average price is $33.95. The stock has a market cap of $46.17 billion, a PE ratio of 20.63, a PEG ratio of 2.39 and a beta of 0.61. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the acquisition, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

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.