Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Acquired by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. increased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 19.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,670 shares of the company’s stock after purchasing an additional 8,500 shares during the period. Meridian Investment Counsel Inc.’s holdings in Keurig Dr Pepper were worth $1,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in Keurig Dr Pepper by 34.6% during the first quarter. Empowered Funds LLC now owns 13,247 shares of the company’s stock worth $406,000 after acquiring an additional 3,404 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Keurig Dr Pepper by 38.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 176,919 shares of the company’s stock valued at $5,426,000 after purchasing an additional 48,726 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Keurig Dr Pepper by 8.7% during the first quarter. Orion Portfolio Solutions LLC now owns 116,567 shares of the company’s stock worth $3,575,000 after buying an additional 9,330 shares in the last quarter. Twin Tree Management LP acquired a new position in Keurig Dr Pepper during the first quarter worth $512,000. Finally, Spirepoint Private Client LLC purchased a new stake in Keurig Dr Pepper in the 1st quarter valued at $202,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now directly owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Stock Down 5.2 %

Shares of NASDAQ:KDP opened at $31.66 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The firm has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $34.76. The company has a market capitalization of $42.95 billion, a PE ratio of 19.19, a P/E/G ratio of 2.59 and a beta of 0.63. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, September 27th. 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%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price 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. Wells Fargo & Company cut their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. TD Cowen boosted their target price 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. Jefferies Financial Group cut their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada increased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

About Keurig Dr Pepper

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.