Brandywine Global Investment Management LLC Invests $25.88 Million in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Brandywine Global Investment Management LLC acquired a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 805,730 shares of the company’s stock, valued at approximately $25,880,000. Brandywine Global Investment Management LLC owned 0.06% of Keurig Dr Pepper as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after acquiring an additional 22,856,757 shares during the period. State Street Corp increased its stake in shares of Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. Geode Capital Management LLC raised its holdings in shares of Keurig Dr Pepper by 2.7% during the third quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock valued at $841,886,000 after buying an additional 591,316 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Keurig Dr Pepper by 65.0% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock worth $681,579,000 after buying an additional 8,363,192 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Keurig Dr Pepper by 32.3% in the 4th quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company’s stock worth $600,189,000 after buying an additional 4,562,128 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Analysts Set New Price Targets

KDP has been the subject of a number of analyst reports. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.23.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $33.74 on Monday. The stock’s fifty day simple moving average is $32.72 and its 200 day simple moving average is $33.52. The stock has a market capitalization of $45.78 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.42 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Insider Activity

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total value of $14,264,640.00. Following the transaction, the chairman now owns 3,237,066 shares in the company, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $33.39, for a total value of $400,680.00. Following the sale, the insider now directly owns 178,511 shares of the company’s stock, valued at $5,960,482.29. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,397,350 shares of company stock worth $2,756,292,570 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.