Bank of Nova Scotia Decreases Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bank of Nova Scotia decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 37.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,424 shares of the company’s stock after selling 282,526 shares during the quarter. Bank of Nova Scotia’s holdings in Keurig Dr Pepper were worth $14,853,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KDP. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Keurig Dr Pepper by 8.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after purchasing an additional 242,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock valued at $10,400,000 after acquiring an additional 112,819 shares during the last quarter. Franklin Resources Inc. grew its position in Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after acquiring an additional 41,466 shares during the period. Swedbank AB increased its stake in Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after acquiring an additional 13,179 shares during the last quarter. Finally, RWC Asset Management LLP raised its position in Keurig Dr Pepper by 34.6% in the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock valued at $49,885,000 after purchasing an additional 398,916 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Up 0.2 %

Shares of KDP opened at $34.75 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $30.12 and a fifty-two week high of $38.28. The company’s fifty day moving average is $33.31 and its two-hundred day moving average is $33.34. The firm has a market cap of $47.15 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. 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 (NASDAQ:KDP) last posted its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current 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 issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.65%. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Analysts Set New Price Targets

KDP has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler raised Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $40.00 in a research note on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. 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 note on Thursday, December 12th. Finally, Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.77.

Insider Buying and Selling at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 7,350 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the sale, the vice president now owns 74,587 shares in the company, valued at approximately $2,548,637.79. This represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the sale, the insider now owns 134,113,479 shares in the company, valued at $4,378,805,089.35. The trade was a 38.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,409,350 shares of company stock valued at $2,756,709,930 in the last ninety days. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper 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.