Kornitzer Capital Management Inc. KS Raises Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Kornitzer Capital Management Inc. KS raised its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,730 shares of the company’s stock after purchasing an additional 3,736 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Keurig Dr Pepper were worth $2,801,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Keurig Dr Pepper by 29.8% in the third quarter. Principal Financial Group Inc. now owns 2,929,312 shares of the company’s stock worth $109,791,000 after acquiring an additional 672,664 shares during the last quarter. Graypoint LLC acquired a new stake in Keurig Dr Pepper during the 3rd quarter worth $233,000. Concurrent Investment Advisors LLC grew its holdings in shares of Keurig Dr Pepper by 79.2% during the third quarter. Concurrent Investment Advisors LLC now owns 18,057 shares of the company’s stock worth $677,000 after buying an additional 7,980 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Keurig Dr Pepper by 52.1% during the third quarter. Catalyst Capital Advisors LLC now owns 1,997 shares of the company’s stock worth $75,000 after acquiring an additional 684 shares during the last quarter. Finally, PDS Planning Inc purchased a new stake in Keurig Dr Pepper during the 3rd quarter valued at about $227,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on KDP. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Barclays cut their target price on 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. Citigroup lowered their price target on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen boosted their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.36.

Keurig Dr Pepper Stock Down 0.1 %

Keurig Dr Pepper stock opened at $32.88 on Friday. The company has a market capitalization of $44.60 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm has a 50 day moving average price of $36.20 and a 200 day moving average price of $34.76.

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

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.23 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.80%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 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.