OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 73,261 Keurig Dr Pepper Inc. (NASDAQ:KDP)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 73,261 shares of the company’s stock, valued at approximately $2,744,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Keurig Dr Pepper in the 3rd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. raised its position in Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after acquiring an additional 685 shares in the last quarter. Blue Trust Inc. lifted its stake in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after acquiring an additional 643 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Keurig Dr Pepper by 105.6% in the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock worth $39,000 after acquiring an additional 530 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KDP shares. TD Cowen raised their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Barclays reduced their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.36.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $33.34 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. The company has a market cap of $45.22 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. The firm has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $34.80. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.76%. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

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.