Entropy Technologies LP Acquires New Shares in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Entropy Technologies LP bought a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 65,867 shares of the company’s stock, valued at approximately $2,116,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the period. State Street Corp raised its stake in shares of Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. National Bank of Canada FI lifted its holdings in shares of Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock valued at $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Keurig Dr Pepper by 125.5% during the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock worth $51,679,000 after buying an additional 767,298 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after buying an additional 730,297 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KDP has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Six 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Keurig Dr Pepper Stock Up 0.1 %

KDP opened at $31.04 on Monday. The stock’s fifty day simple moving average is $31.98 and its 200 day simple moving average is $34.08. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The stock has a market cap of $42.10 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.61. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, January 3rd. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Buying and Selling

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