BlackRock Inc. reduced its position in shares of Keurig Dr Pepper Inc (NYSE:KDP) by 10.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,869,611 shares of the company’s stock after selling 781,572 shares during the period. BlackRock Inc. owned about 0.49% of Keurig Dr Pepper worth $198,532,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in Keurig Dr Pepper by 426.3% during the 2nd quarter. Prudential Financial Inc. now owns 3,429,881 shares of the company’s stock valued at $99,124,000 after purchasing an additional 2,778,138 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Keurig Dr Pepper by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,146,864 shares of the company’s stock valued at $33,144,000 after purchasing an additional 39,069 shares during the last quarter. Jennison Associates LLC lifted its holdings in Keurig Dr Pepper by 10.8% during the 2nd quarter. Jennison Associates LLC now owns 957,104 shares of the company’s stock valued at $27,660,000 after purchasing an additional 93,636 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in Keurig Dr Pepper by 83.3% during the 2nd quarter. AustralianSuper Pty Ltd now owns 950,870 shares of the company’s stock valued at $27,480,000 after purchasing an additional 432,032 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Keurig Dr Pepper by 27.5% during the 2nd quarter. First Trust Advisors LP now owns 909,151 shares of the company’s stock valued at $26,274,000 after purchasing an additional 196,239 shares during the last quarter. 19.58% of the stock is owned by hedge funds and other institutional investors.
In other Keurig Dr Pepper news, Director Robert S. Singer purchased 3,500 shares of the stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $29.39 per share, for a total transaction of $102,865.00. Following the transaction, the director now directly owns 53,001 shares in the company, valued at $1,557,699.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Beth Denooyer purchased 6,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $26.85 per share, with a total value of $161,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 78,000 shares of company stock valued at $2,132,265. 0.44% of the stock is owned by corporate insiders.
Keurig Dr Pepper (NYSE:KDP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Keurig Dr Pepper had a net margin of 10.13% and a return on equity of 7.27%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the company earned $0.30 EPS. Keurig Dr Pepper’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Keurig Dr Pepper Inc will post 1.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, January 2nd. Keurig Dr Pepper’s dividend payout ratio is 57.69%.
KDP has been the subject of several analyst reports. Royal Bank of Canada set a $31.00 price target on shares of Keurig Dr Pepper and gave the company a “buy” rating in a report on Friday, August 9th. Guggenheim reaffirmed a “hold” rating on shares of Keurig Dr Pepper in a research note on Friday, September 27th. SunTrust Banks set a $35.00 target price on shares of Keurig Dr Pepper and gave the stock a “buy” rating in a research note on Friday, September 27th. Bank of America boosted their target price on shares of Keurig Dr Pepper from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Morgan Stanley boosted their target price on shares of Keurig Dr Pepper from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.67.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
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