Bevco B.V. Jab Sells 69,000,000 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) Stock

Keurig Dr Pepper Inc. (NASDAQ:KDP) major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Keurig Dr Pepper Trading Up 0.3 %

KDP stock traded up $0.11 during midday trading on Wednesday, hitting $32.99. The stock had a trading volume of 42,883,585 shares, compared to its average volume of 9,109,413. The firm has a market cap of $44.75 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.73 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company’s 50-day moving average price is $36.58 and its 200 day moving average price is $34.70.

Keurig Dr Pepper (NASDAQ:KDP) last announced 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 net margin of 14.47% and a return on equity of 10.32%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned $0.48 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Analysts Set New Price Targets

KDP has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. TD Cowen raised their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Finally, Barclays dropped their price objective on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $38.36.

Institutional Trading of Keurig Dr Pepper

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Keurig Dr Pepper by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after buying an additional 7,825,418 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Keurig Dr Pepper by 107.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after acquiring an additional 12,259,471 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after acquiring an additional 730,297 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Keurig Dr Pepper by 2.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after acquiring an additional 317,837 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock valued at $333,057,000 after acquiring an additional 609,857 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.