Allstate Corp Increases Holdings in Keurig Dr Pepper, Inc $KDP

Allstate Corp boosted its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 100.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,378 shares of the company’s stock after purchasing an additional 48,868 shares during the period. Allstate Corp’s holdings in Keurig Dr Pepper were worth $2,728,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KDP. Root Financial Partners LLC purchased a new position in Keurig Dr Pepper during the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new position in Keurig Dr Pepper during the 4th quarter valued at about $26,000. Clearstead Trust LLC grew its holdings in shares of Keurig Dr Pepper by 98.3% during the 3rd quarter. Clearstead Trust LLC now owns 1,081 shares of the company’s stock worth $28,000 after acquiring an additional 536 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Keurig Dr Pepper by 71.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock worth $30,000 after acquiring an additional 484 shares during the period. Finally, Activest Wealth Management grew its holdings in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock worth $31,000 after acquiring an additional 1,072 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $30.10 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $27.52 and its 200-day moving average price is $27.94. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $35.94. The stock has a market cap of $40.95 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.35 and a beta of 0.41.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 26th. Keurig Dr Pepper’s payout ratio is currently 68.15%.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research analyst reports. BNP Paribas Exane upgraded Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a report on Wednesday, April 22nd. UBS Group upped their target price on Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Wells Fargo & Company reduced their target price on Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings upgraded Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Evercore set a $30.00 target price on Keurig Dr Pepper in a report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper has an average rating of “Hold” and a consensus target price of $31.57.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.