RWC Asset Management LLP Takes $39.93 Million Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

RWC Asset Management LLP purchased a new stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,198,500 shares of the company’s stock, valued at approximately $39,934,000. Keurig Dr Pepper makes up approximately 2.4% of RWC Asset Management LLP’s investment portfolio, making the stock its 12th largest holding. RWC Asset Management LLP owned about 0.09% of Keurig Dr Pepper as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in Keurig Dr Pepper by 49.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,466,535 shares of the company’s stock worth $48,880,000 after buying an additional 487,589 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC boosted its position in Keurig Dr Pepper by 34.5% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 14,800 shares of the company’s stock worth $493,000 after buying an additional 3,800 shares during the period. Bryn Mawr Capital Management LLC boosted its position in Keurig Dr Pepper by 192.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 29,926 shares of the company’s stock worth $997,000 after buying an additional 19,684 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Keurig Dr Pepper by 13.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 563,679 shares of the company’s stock worth $18,782,000 after buying an additional 65,081 shares during the period. Finally, Syon Capital LLC acquired a new stake in Keurig Dr Pepper during the 4th quarter worth approximately $269,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded down $0.12 during midday trading on Friday, reaching $33.72. The company had a trading volume of 9,684,878 shares, compared to its average volume of 8,656,274. The company’s 50 day moving average price is $30.41 and its 200 day moving average price is $31.08. The company has a current ratio of 0.51, a quick ratio of 0.25 and a debt-to-equity ratio of 0.52. The stock has a market cap of $46.79 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.57 and a beta of 0.66. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $34.65.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, March 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Analysts Set New Price Targets

Several research analysts have issued reports on KDP shares. Morgan Stanley lowered their price target on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Royal Bank of Canada lowered their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Barclays lifted their price objective on shares of Keurig Dr Pepper from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Jefferies Financial Group lowered their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Finally, Wedbush lowered their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Insider Activity

In other news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total transaction of $1,501,543,485.80. Following the completion of the sale, the insider now owns 331,487,357 shares of the company’s stock, valued at $9,579,984,617.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the sale, the director now owns 37,643 shares of the company’s stock, valued at $1,101,057.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the completion of the sale, the insider now directly owns 331,487,357 shares of the company’s stock, valued at approximately $9,579,984,617.30. The disclosure for this sale can be found here. Insiders have sold a total of 100,012,132 shares of company stock worth $2,890,354,861 over the last ninety days. Company insiders own 0.81% of the company’s stock.

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.