Forvis Mazars Increases Stake in Keurig Dr Pepper by 3%

Forvis Mazars Wealth Advisors LLC has expanded its investment in Keurig Dr Pepper, Inc. (NASDAQ: KDP) by 3.0% during the second quarter of 2023. The firm now holds 49,836 shares of the beverage company, having acquired an additional 1,454 shares, with a total valuation of approximately $1,648,000 at the end of June.

The increase in holdings reflects a broader trend among institutional investors. During the same quarter, several other firms also adjusted their stakes in Keurig Dr Pepper. Notably, Rise Advisors LLC entered the market with a new position valued at about $25,000, while Chung Wu Investment Group LLC acquired a stake worth approximately $26,000. Continuum Advisory LLC significantly boosted its position by 82.5% in the first quarter, increasing its holdings to 1,332 shares valued at about $46,000.

As of now, hedge funds and institutional investors own 93.99% of Keurig Dr Pepper’s stock, indicating strong confidence in the company’s performance.

Recent Insider Transactions and Company Performance

In related news, Keurig Dr Pepper’s Director, Robert James Gamgort, sold 7,601 shares on August 20, 2023, at an average price of $35.91, generating a total of $272,951.91 from the transaction. Following this sale, Gamgort retains 2,284,568 shares, valued at approximately $82 million. This sale reflects a 0.33% decrease in his ownership stake. Over the past three months, company insiders have sold a cumulative total of 423,601 shares valued at $14 million.

Keurig Dr Pepper recently reported its earnings for the second quarter on July 24, 2023. The company achieved an earnings per share (EPS) of $0.49, aligning with analyst expectations. The firm reported a net margin of 9.75% and a return on equity of 11.05%. Revenue for the quarter reached $4.16 billion, surpassing forecasts of $4.14 billion and reflecting a 6.1% increase compared to the same quarter the previous year. Analysts project an EPS of $1.92 for the current fiscal year.

Dividend Announcements and Analyst Ratings

Keurig Dr Pepper also declared a quarterly dividend of $0.23 per share, which was paid on October 10, 2023. Shareholders on record as of September 26 received this dividend, which translates to an annualized payout of $0.92 and a yield of 3.3%. The company’s dividend payout ratio currently stands at 82.14%.

Recent analyses have seen varied opinions regarding Keurig Dr Pepper’s stock. Wells Fargo & Company downgraded its price target from $40.00 to $33.00 while maintaining an “overweight” rating. Conversely, Deutsche Bank Aktiengesellschaft lowered its target from $40.00 to $38.00, affirming a “buy” rating. Overall, eleven analysts currently rate the stock as a Buy, while two assign a Sell rating, suggesting a mixed outlook.

Keurig Dr Pepper, Inc. operates in multiple segments, including U.S. Refreshment Beverages, U.S. Coffee, and International, focusing on the manufacture and distribution of beverages and single-serve brewing systems. As the company continues to navigate market dynamics, investor interest remains robust, reflecting confidence in its growth trajectory.