Capital Research & Management Co recently announced the acquisition of new stake in Keurig Dr Pepper Inc (NASDAQ:KDP). The institutional investor has increased its shareholding in the Consumer Defensive company by 16.96% to 94.29 million shares with purchase of 13.68 million shares. This fresh investment now brings its stake to 6.74% valued currently at $2.98 billion. In addition, The Vanguard Group, Inc. raised its holdings by 5.02 million to 78.18 million shares. And Capital Research & Management Co has lifted its position by 7.22% or 3.73 million shares – to 55.33 million shares.
Currently, there are 1.41B common shares owned by the public and among those 991.82M shares have been available to trade.
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Insiders at the company have transacted a total of 91 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 59 of these insider trades were purchases, accounting for 2,452,453 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 88,178,631 shares.
The top 3 mutual fund holders in Keurig Dr Pepper Inc are Washington Mutual Investors Fund, Vanguard Total Stock Market ETF, and Invesco QQQ Trust. Washington Mutual Investors Fund owns 41.8 million shares of the company’s stock, all valued at over $1.32 billion. The company bought an additional 5.78 million shares recently to bring their total holdings to about 2.99% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.13 million shares to see its total holdings expand to 30.62 million shares valued at over $966.74 million and representing 2.19% of the shares outstanding. Invesco QQQ Trust sold 82422.0 shares to bring its total holdings to over 24.31 million shares at a value of $767.39 million. Invesco QQQ Trust now owns shares totaling to 1.74% of the shares outstanding.
However, the script later moved the day high at 32.59, up 1.35%. The company’s stock has a 5-day price change of -1.10% and -3.02% over the past three months. KDP shares are trading -9.14% year to date (YTD), with the 12-month market performance down to -11.55% lower. It has a 12-month low price of $27.66 and touched a high of $36.72 over the same period. KDP has an average intraday trading volume of 8.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.55%, 4.96%, and -0.51% respectively.
Institutional ownership of Keurig Dr Pepper Inc (NASDAQ: KDP) shares accounts for 63.23% of the company’s 1.41B shares outstanding. Mutual fund holders own 31.85%, while other institutional holders and individual stakeholders account for 43.99% and 19.57% respectively.
It has a market capitalization of $45.31B and a beta (3y monthly) value of 0.67. The stock’s trailing 12-month PE ratio is 23.61, while the earnings-per-share (ttm) stands at $1.37. The company has a PEG of 3.40 and a Quick Ratio of 0.22 with the debt-to-equity ratio at 0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.54% over the week and 1.60% over the month.
Analysts forecast that Keurig Dr Pepper Inc (KDP) will achieve an EPS of $0.54 for the current quarter, $0.36 for the next quarter and $1.91 for 2024. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $0.55. Comparatively, EPS for the current quarter was $0.5 a year ago. Earnings per share for the fiscal year are expected to increase by 6.00%, and 7.56% over the next financial year. EPS should grow at an annualized rate of 6.94% over the next five years, compared to -29.79% over the past 5-year period.
Looking at the support for the KDP, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on November 13, 2023, with the firm’s price target at $39.
