Mitsubishi UFJ Asset Management Co. Ltd. Purchases 276,669 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,916,555 shares of the company’s stock after purchasing an additional 276,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Keurig Dr Pepper were worth $60,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KDP. Vanguard Group Inc. increased its stake in Keurig Dr Pepper by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after buying an additional 22,856,757 shares during the last quarter. State Street Corp grew its holdings in shares of Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $841,886,000 after acquiring an additional 591,316 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 59,464 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Keurig Dr Pepper by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 7,304,769 shares of the company’s stock worth $234,629,000 after purchasing an additional 342,715 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Trading Down 1.5 %

Shares of KDP opened at $33.74 on Friday. The business’s 50-day moving average price is $32.72 and its 200-day moving average price is $33.57. 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 $30.12 and a twelve month high of $38.28. The stock has a market cap of $45.78 billion, a PE ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.73%. Keurig Dr Pepper’s payout ratio is currently 87.62%.

Insider Activity

In other news, Chairman Robert James Gamgort sold 416,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the transaction, the chairman now directly owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,397,350 shares of company stock worth $2,756,292,570. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. TD Cowen dropped 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 research note on Wednesday, January 8th. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target for the company. Morgan Stanley upped their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. 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, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper 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.