Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Bought by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC grew its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.1% during the third quarter, HoldingsChannel reports. The firm owned 182,000 shares of the company’s stock after purchasing an additional 12,000 shares during the quarter. Keurig Dr Pepper comprises approximately 3.9% of IVY Lane Capital Management LLC’s portfolio, making the stock its 11th biggest holding. IVY Lane Capital Management LLC’s holdings in Keurig Dr Pepper were worth $6,821,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KDP. Vanguard Group Inc. boosted its stake in shares of Keurig Dr Pepper by 9.4% in the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after buying an additional 7,825,418 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Keurig Dr Pepper by 38.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,732 shares of the company’s stock valued at $483,000 after purchasing an additional 4,351 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Keurig Dr Pepper by 367.4% in the first quarter. UniSuper Management Pty Ltd now owns 45,660 shares of the company’s stock valued at $1,400,000 after purchasing an additional 35,891 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Keurig Dr Pepper by 17.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,080,266 shares of the company’s stock worth $33,158,000 after buying an additional 159,308 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Keurig Dr Pepper by 37.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,337,000 shares of the company’s stock worth $41,006,000 after buying an additional 361,043 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $31.66 on Monday. The stock has a fifty day moving average price of $35.73 and a 200 day moving average price of $34.78. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The firm has a market capitalization of $42.95 billion, a P/E ratio of 19.19, a PEG ratio of 2.45 and a beta of 0.63. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 EPS. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. TD Cowen boosted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price target on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Citigroup cut their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

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.