Cigna Investments Inc. New Purchases 432 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cigna Investments Inc. New increased its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,363 shares of the company’s stock after acquiring an additional 432 shares during the quarter. Cigna Investments Inc. New’s holdings in Keurig Dr Pepper were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KDP. Equitable Trust Co. bought a new position in shares of Keurig Dr Pepper in the 4th quarter worth $344,000. Entropy Technologies LP purchased a new position in Keurig Dr Pepper in the fourth quarter valued at about $2,116,000. Empowered Funds LLC grew its stake in Keurig Dr Pepper by 12.2% in the fourth quarter. Empowered Funds LLC now owns 20,060 shares of the company’s stock valued at $644,000 after purchasing an additional 2,188 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Keurig Dr Pepper by 29.9% in the fourth quarter. Apollon Wealth Management LLC now owns 24,900 shares of the company’s stock worth $800,000 after purchasing an additional 5,729 shares in the last quarter. Finally, Tobam lifted its position in shares of Keurig Dr Pepper by 140.6% during the fourth quarter. Tobam now owns 77,477 shares of the company’s stock valued at $2,489,000 after buying an additional 45,274 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KDP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. UBS Group reduced their price target on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Citigroup lowered their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen reduced their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the company’s stock in a transaction that occurred 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 acquisition, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. The trade was 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 accessible through this link. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Stock Up 2.1 %

Shares of KDP stock opened at $31.56 on Wednesday. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm has a market capitalization of $42.81 billion, a PE ratio of 19.13, a P/E/G ratio of 2.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The stock’s 50-day simple moving average is $31.95 and its 200-day simple moving average is $34.07.

Keurig Dr Pepper Dividend Announcement

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