Forum Financial Management LP Acquires 9,580 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Forum Financial Management LP raised its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 69.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,409 shares of the company’s stock after purchasing an additional 9,580 shares during the quarter. Forum Financial Management LP’s holdings in Keurig Dr Pepper were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Townsquare Capital LLC boosted its stake in Keurig Dr Pepper by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company’s stock worth $505,000 after buying an additional 327 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Keurig Dr Pepper by 1.2% during the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after purchasing an additional 342 shares during the period. Barden Capital Management Inc. grew its holdings in Keurig Dr Pepper by 0.9% during the 4th quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock valued at $1,280,000 after purchasing an additional 353 shares during the last quarter. Custom Index Systems LLC raised its position in 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 purchasing an additional 357 shares during the period. Finally, First Hawaiian Bank lifted its stake in Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock worth $250,000 after purchasing an additional 384 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KDP. JPMorgan Chase & Co. raised 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. Morgan Stanley raised shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Piper Sandler raised shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, TD Cowen reduced their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $39.21.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock opened at $35.41 on Friday. 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 company has a market capitalization of $48.04 billion, a PE ratio of 21.46, a P/E/G ratio of 2.42 and a beta of 0.54. The company has a 50-day simple moving average of $33.82 and a two-hundred day simple moving average of $33.25. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data 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. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. Research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the completion of the transaction, the insider now owns 134,113,479 shares in the company, valued at $4,378,805,089.35. This represents a 38.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert James Gamgort sold 416,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,421,350 shares of company stock worth $2,757,137,010. 1.00% of the stock is owned by company insiders.

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.