Fisher Funds Management LTD Purchases New Shares in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fisher Funds Management LTD acquired a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 103,613 shares of the company’s stock, valued at approximately $3,318,000.

Other large investors also recently made changes to their positions in the company. FMR LLC lifted its position in 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 buying an additional 9,105,164 shares in the last quarter. State Street Corp raised 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 worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Keurig Dr Pepper by 394.3% during the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Keurig Dr Pepper by 125.5% during the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after purchasing an additional 767,298 shares during the last quarter. Finally, Suvretta Capital Management LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at approximately $26,352,000. Institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KDP. Barclays reduced their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price target for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. TD Cowen lowered their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.50.

Insider Buying and Selling

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the acquisition, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $34.04 on Monday. The stock has a 50 day simple moving average of $31.80 and a 200 day simple moving average of $33.94. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. 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 firm has a market capitalization of $46.17 billion, a PE ratio of 20.63, a P/E/G ratio of 2.42 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 2.70%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is 55.76%.

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.