Westpac Banking Corp Raises Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Westpac Banking Corp grew its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,090 shares of the company’s stock after purchasing an additional 2,111 shares during the quarter. Westpac Banking Corp’s holdings in Keurig Dr Pepper were worth $645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Perigon Wealth Management LLC raised its stake in Keurig Dr Pepper by 1.2% in the fourth quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after buying an additional 342 shares in the last quarter. Barden Capital Management Inc. grew its holdings in shares of Keurig Dr Pepper by 0.9% during the 4th quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock worth $1,280,000 after acquiring an additional 353 shares during the period. Custom Index Systems LLC raised its position in shares of Keurig Dr Pepper by 5.3% in the 4th quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock worth $228,000 after acquiring an additional 357 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of Keurig Dr Pepper by 5.2% in the 4th quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock valued at $250,000 after purchasing an additional 384 shares during the period. Finally, New Age Alpha Advisors LLC boosted its position in shares of Keurig Dr Pepper by 82.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KDP has been the subject of several recent research reports. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $40.00 in a research report on Tuesday. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. TD Cowen decreased their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.38.

Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the transaction, the insider now directly owns 166,511 shares of the company’s stock, valued at approximately $5,791,252.58. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Robert James Gamgort sold 416,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the sale, the chairman now owns 3,237,066 shares of the company’s stock, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,409,350 shares of company stock valued at $2,756,709,930. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Down 5.1 %

Shares of NASDAQ:KDP opened at $33.81 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. Keurig Dr Pepper Inc. has a 1 year low of $30.12 and a 1 year high of $38.28. The company has a market cap of $45.87 billion, a P/E ratio of 20.49, a PEG ratio of 2.42 and a beta of 0.54. The stock’s fifty day moving average price is $33.05 and its 200-day moving average price is $33.48.

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

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

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.