Kayne Anderson Rudnick Investment Management LLC Invests $1.62 Million in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 48,385 shares of the company’s stock, valued at approximately $1,616,000.

Several other large investors have also recently bought and sold shares of KDP. Farmers & Merchants Investments Inc. grew its stake in Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Federated Hermes Inc. grew its position in Keurig Dr Pepper by 21.8% during the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after purchasing an additional 314 shares in the last quarter. Morningstar Investment Management LLC increased its stake in Keurig Dr Pepper by 1.1% in the 4th quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock valued at $1,051,000 after buying an additional 328 shares during the period. Mather Group LLC. lifted its position in Keurig Dr Pepper by 29.0% in the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock worth $53,000 after buying an additional 392 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Keurig Dr Pepper by 0.4% during the 4th quarter. US Bancorp DE now owns 121,107 shares of the company’s stock valued at $4,035,000 after buying an additional 503 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Trading Up 1.5 %

Shares of NASDAQ:KDP opened at $38.01 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The stock’s 50-day moving average is $35.37 and its 200-day moving average is $33.50. The company has a market cap of $51.53 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.79 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $38.06.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 59.35%.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research reports. Barclays cut their price objective on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, July 19th. BNP Paribas began coverage on Keurig Dr Pepper in a report on Monday, June 24th. They set a “neutral” rating and a $36.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $43.00 in a research report on Monday. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Keurig Dr Pepper Company 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.