Franklin Resources Inc. Sells 972,827 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Franklin Resources Inc. trimmed its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 25.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,796,350 shares of the company’s stock after selling 972,827 shares during the quarter. Franklin Resources Inc. owned 0.20% of Keurig Dr Pepper worth $98,963,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tcwp LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth approximately $29,000. J.W. Cole Advisors Inc. bought a new stake in Keurig Dr Pepper during the 1st quarter valued at $59,000. Covestor Ltd raised its holdings in Keurig Dr Pepper by 124.9% during the 1st quarter. Covestor Ltd now owns 1,592 shares of the company’s stock valued at $60,000 after buying an additional 884 shares during the last quarter. Newfound Research LLC bought a new stake in Keurig Dr Pepper during the 2nd quarter valued at $65,000. Finally, Quent Capital LLC raised its holdings in Keurig Dr Pepper by 49.3% during the 1st quarter. Quent Capital LLC now owns 1,829 shares of the company’s stock valued at $69,000 after buying an additional 604 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors.

Insider Transactions at Keurig Dr Pepper

In other news, Chairman Robert James Gamgort sold 275,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $38.40, for a total value of $10,560,000.00. Following the sale, the chairman now directly owns 3,703,186 shares of the company’s stock, valued at approximately $142,202,342.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Robert James Gamgort sold 275,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $38.40, for a total value of $10,560,000.00. Following the sale, the chairman now directly owns 3,703,186 shares of the company’s stock, valued at approximately $142,202,342.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maurice Anthony Milikin acquired 12,986 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were purchased at an average cost of $38.97 per share, for a total transaction of $506,064.42. Following the completion of the transaction, the insider now directly owns 142,776 shares in the company, valued at approximately $5,563,980.72. The disclosure for this purchase can be found here. Insiders have sold 822,300 shares of company stock valued at $31,306,009 in the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KDP. StockNews.com lowered shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating in a report on Monday, October 31st. The Goldman Sachs Group lowered shares of Keurig Dr Pepper from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $37.00 in a report on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 17th. Barclays upped their price target on shares of Keurig Dr Pepper from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Finally, UBS Group upped their price objective on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Hold” and a consensus price target of $39.75.

Keurig Dr Pepper Stock Down 0.0 %

NASDAQ:KDP opened at $38.32 on Thursday. The firm’s 50-day moving average price is $37.75 and its 200-day moving average price is $37.80. The company has a market capitalization of $54.27 billion, a PE ratio of 29.94, a P/E/G ratio of 3.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.60 and a quick ratio of 0.40. Keurig Dr Pepper Inc. has a 1-year low of $33.35 and a 1-year high of $41.31.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a $0.20 dividend. The ex-dividend date was Thursday, September 29th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. Keurig Dr Pepper’s dividend payout ratio is currently 62.50%.

About Keurig Dr Pepper

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.

Further Reading

Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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