Fulton Bank N.A. Acquires New Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fulton Bank N.A. acquired a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,376 shares of the company’s stock, valued at approximately $1,326,000.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of Keurig Dr Pepper by 254.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after buying an additional 68,840 shares in the last quarter. Twin Tree Management LP purchased a new position in Keurig Dr Pepper in the 1st quarter worth approximately $512,000. Confluence Investment Management LLC purchased a new position in Keurig Dr Pepper in the 1st quarter worth approximately $11,375,000. PBCay One RSC Ltd purchased a new position in Keurig Dr Pepper in the 4th quarter worth approximately $1,543,000. Finally, FORA Capital LLC purchased a new position in Keurig Dr Pepper in the 1st quarter worth approximately $4,519,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Down 0.7 %

KDP stock opened at $36.15 on Tuesday. Keurig Dr Pepper Inc. has a 1-year low of $27.66 and a 1-year high of $38.28. The business has a fifty day moving average price of $36.23 and a 200-day moving average price of $34.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The stock has a market capitalization of $49.00 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.86 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. Keurig Dr Pepper’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.54%. Keurig Dr Pepper’s dividend payout ratio is presently 59.35%.

Analyst Ratings Changes

KDP has been the topic of a number of analyst reports. Barclays decreased their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and boosted their target price for the company from $27.00 to $34.00 in a research note on Monday, June 17th. BNP Paribas started coverage on Keurig Dr Pepper in a research note on Monday, June 24th. They set a “neutral” rating and a $36.00 target price on the stock. Citigroup upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $43.00 in a research report on Monday, September 23rd. Finally, UBS Group lifted their price target on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Seven research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.53.

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.