CIBC Asset Management Inc Boosts Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

CIBC Asset Management Inc boosted its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 414,744 shares of the company’s stock after acquiring an additional 22,052 shares during the quarter. CIBC Asset Management Inc’s holdings in Keurig Dr Pepper were worth $15,545,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. raised its position in Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after buying an additional 643 shares during the period. Farmers & Merchants Investments Inc. grew its position in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after buying an additional 301 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Keurig Dr Pepper by 105.6% during the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock worth $39,000 after buying an additional 530 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KDP shares. Royal Bank of Canada lifted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays lowered their target price on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. TD Cowen raised their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Jefferies Financial Group lowered 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. Finally, Wells Fargo & Company cut their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’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 owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Down 5.2 %

Shares of NASDAQ:KDP opened at $31.66 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a market cap of $42.95 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.59 and a beta of 0.63. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The firm has a fifty day moving average price of $35.73 and a 200 day moving average price of $34.76.

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

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is 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.