IVY Lane Capital Management LLC Grows Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

IVY Lane Capital Management LLC boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,000 shares of the company’s stock after acquiring an additional 12,000 shares during the period. Keurig Dr Pepper accounts for about 3.9% of IVY Lane Capital Management LLC’s portfolio, making the stock its 11th largest holding. IVY Lane Capital Management LLC’s holdings in Keurig Dr Pepper were worth $6,821,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. CX Institutional increased its position in shares of Keurig Dr Pepper by 3.6% during the third quarter. CX Institutional now owns 8,129 shares of the company’s stock valued at $305,000 after acquiring an additional 283 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Keurig Dr Pepper by 3.6% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock worth $320,000 after purchasing an additional 300 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after buying an additional 301 shares during the period. Federated Hermes Inc. grew its stake in shares of Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after buying an additional 314 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Keurig Dr Pepper by 29.0% in the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after buying an additional 392 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

KDP stock opened at $31.66 on Monday. The business has a 50 day moving average price of $35.73 and a 200 day moving average price of $34.78. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $42.95 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.45 and a beta of 0.63. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results 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 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 55.76%.

Analyst Ratings Changes

KDP has been the topic of several research reports. TD Cowen increased their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Barclays reduced their target price on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and an average target price of $38.36.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

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.