abrdn plc Buys 136,654 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

abrdn plc boosted its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,478,125 shares of the company’s stock after purchasing an additional 136,654 shares during the quarter. abrdn plc’s holdings in Keurig Dr Pepper were worth $47,160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JB Capital LLC lifted its position in shares of Keurig Dr Pepper by 5.0% in the fourth quarter. JB Capital LLC now owns 100,012 shares of the company’s stock worth $3,212,000 after buying an additional 4,743 shares in the last quarter. Western Pacific Wealth Management LP purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter worth approximately $132,000. Greenleaf Trust boosted its position in shares of Keurig Dr Pepper by 4.8% during the 4th quarter. Greenleaf Trust now owns 15,735 shares of the company’s stock valued at $505,000 after acquiring an additional 723 shares during the last quarter. Golden State Equity Partners grew its holdings in shares of Keurig Dr Pepper by 36.4% in the fourth quarter. Golden State Equity Partners now owns 13,320 shares of the company’s stock valued at $428,000 after purchasing an additional 3,554 shares in the last quarter. Finally, Avantra Family Wealth Inc. bought a new stake in Keurig Dr Pepper in the fourth quarter worth $271,000. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 3.9 %

Shares of NASDAQ:KDP opened at $31.28 on Wednesday. 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 Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. The stock has a market cap of $42.43 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 2.24 and a beta of 0.61. The business has a 50-day moving average price of $32.10 and a 200-day moving average price of $34.14.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, January 3rd. Keurig Dr Pepper’s payout ratio is 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the acquisition, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on KDP. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. TD Cowen dropped their price target 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. Citigroup cut their target price on 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. Royal Bank of Canada upped their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price objective 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. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

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.