Principal Financial Group Inc. Boosts Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Principal Financial Group Inc. raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 29.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,929,312 shares of the company’s stock after purchasing an additional 672,664 shares during the quarter. Principal Financial Group Inc.’s holdings in Keurig Dr Pepper were worth $109,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KDP. Franklin Resources Inc. grew its stake in shares of Keurig Dr Pepper by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after purchasing an additional 41,466 shares during the period. Peapack Gladstone Financial Corp purchased a new position in Keurig Dr Pepper in the third quarter valued at about $338,000. Tidal Investments LLC lifted its position in shares of Keurig Dr Pepper by 26.5% during the 3rd quarter. Tidal Investments LLC now owns 237,887 shares of the company’s stock valued at $8,916,000 after acquiring an additional 49,865 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of Keurig Dr Pepper by 441.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 94,948 shares of the company’s stock worth $3,559,000 after acquiring an additional 77,414 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $1,858,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on KDP. Royal Bank of Canada boosted their target price 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. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on 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. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group dropped their price objective 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Keurig Dr Pepper Trading Down 0.1 %

Shares of KDP opened at $32.37 on Friday. The stock’s fifty day simple moving average is $33.52 and its 200 day simple moving average is $34.55. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. 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 market capitalization of $43.91 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data 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 return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $0.48 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 2.84%. Keurig Dr Pepper’s dividend payout ratio is currently 55.76%.

Insider Transactions at Keurig Dr Pepper

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 stock was 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 owns 214,443,879 shares of the company’s stock, valued at $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 available at this hyperlink. Company insiders own 1.00% of the company’s stock.

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.