Peapack Gladstone Financial Corp Invests $338,000 in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Peapack Gladstone Financial Corp acquired a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) in the third quarter, HoldingsChannel reports. The firm acquired 9,019 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds also recently bought and sold shares of the business. Tidal Investments LLC boosted its position in Keurig Dr Pepper by 26.5% in the 3rd quarter. Tidal Investments LLC now owns 237,887 shares of the company’s stock valued at $8,916,000 after buying an additional 49,865 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Keurig Dr Pepper by 441.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 94,948 shares of the company’s stock worth $3,559,000 after purchasing an additional 77,414 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Keurig Dr Pepper during the 3rd quarter worth $1,858,000. Sanctuary Advisors LLC raised its position in Keurig Dr Pepper by 2.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 78,155 shares of the company’s stock valued at $2,929,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Unigestion Holding SA lifted its holdings in shares of Keurig Dr Pepper by 1,220.8% in the 3rd quarter. Unigestion Holding SA now owns 92,089 shares of the company’s stock worth $3,451,000 after buying an additional 85,117 shares during the period. Institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KDP shares. Citigroup cut their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group cut their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. cut their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $33.12 on Tuesday. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The company has a market cap of $44.93 billion, a PE ratio of 20.07, a P/E/G ratio of 2.57 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 business has a 50-day simple moving average of $33.82 and a two-hundred day simple moving average of $34.60.

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

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Keurig Dr Pepper’s payout ratio is 55.76%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

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.