M&T Bank Corp Has $2.81 Million Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

M&T Bank Corp raised its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 74,943 shares of the company’s stock after acquiring an additional 3,664 shares during the quarter. M&T Bank Corp’s holdings in Keurig Dr Pepper were worth $2,808,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KDP. FMR LLC increased its position in shares of Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares in the last quarter. State Street Corp grew its stake in Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after buying an additional 4,970,467 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after buying an additional 730,297 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after acquiring an additional 317,837 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Keurig Dr Pepper by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock worth $333,057,000 after acquiring an additional 609,857 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KDP shares. TD Cowen lifted their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Citigroup decreased their price target on shares of 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. Finally, Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Insiders Place Their Bets

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 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 of the company’s stock, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Down 0.8 %

NASDAQ:KDP opened at $33.55 on Friday. The stock’s fifty day simple moving average is $33.88 and its 200-day simple moving average is $34.60. The firm has a market capitalization of $45.51 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.57 and a beta of 0.61. 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 12-month low of $28.61 and a 12-month high of $38.28.

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

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, January 3rd. Keurig Dr Pepper’s payout ratio is presently 55.76%.

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.