Raymond James Financial Inc. Buys Shares of 1,805,598 Keurig Dr Pepper Inc. (NASDAQ:KDP)

Raymond James Financial Inc. purchased a new stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,805,598 shares of the company’s stock, valued at approximately $57,995,000.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System increased its stake in Keurig Dr Pepper by 5.4% during the 4th quarter. Arizona State Retirement System now owns 327,581 shares of the company’s stock worth $10,522,000 after purchasing an additional 16,684 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Keurig Dr Pepper during the 4th quarter worth approximately $3,820,000. M&T Bank Corp increased its stake in Keurig Dr Pepper by 0.9% during the 4th quarter. M&T Bank Corp now owns 75,620 shares of the company’s stock worth $2,429,000 after purchasing an additional 677 shares in the last quarter. Assetmark Inc. increased its stake in Keurig Dr Pepper by 7.6% during the 4th quarter. Assetmark Inc. now owns 38,380 shares of the company’s stock worth $1,233,000 after purchasing an additional 2,706 shares in the last quarter. Finally, Keybank National Association OH increased its stake in Keurig Dr Pepper by 27.5% during the 4th quarter. Keybank National Association OH now owns 14,911 shares of the company’s stock worth $479,000 after purchasing an additional 3,217 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction of $251,149.50. Following the completion of the sale, the vice president now owns 74,587 shares of the company’s stock, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following 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 disclosure for this purchase can be found here. Insiders sold 84,385,350 shares of company stock valued at $2,755,891,890 in the last quarter. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Trading Down 2.4 %

NASDAQ KDP opened at $32.54 on Tuesday. The company has a market cap of $44.15 billion, a PE ratio of 19.72, a PEG ratio of 2.42 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $28.62 and a 12 month high of $38.28. The stock has a 50 day moving average of $32.06 and a 200-day moving average of $33.82.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’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 firm posted $0.55 EPS. On average, equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is 87.62%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price 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. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Morgan Stanley raised their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

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.