Kingsview Wealth Management LLC Sells 328 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Kingsview Wealth Management LLC trimmed its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,155 shares of the company’s stock after selling 328 shares during the period. Kingsview Wealth Management LLC’s holdings in Keurig Dr Pepper were worth $2,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KDP. Cerity Partners LLC grew its holdings in shares of Keurig Dr Pepper by 13.7% during the third quarter. Cerity Partners LLC now owns 142,822 shares of the company’s stock worth $5,353,000 after purchasing an additional 17,172 shares in the last quarter. Raymond James Trust N.A. lifted its position in Keurig Dr Pepper by 4.6% during the third quarter. Raymond James Trust N.A. now owns 18,082 shares of the company’s stock valued at $678,000 after purchasing an additional 798 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Keurig Dr Pepper by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,007,549 shares of the company’s stock worth $225,163,000 after buying an additional 150,202 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Keurig Dr Pepper by 23.5% in the 3rd quarter. Pacer Advisors Inc. now owns 264,613 shares of the company’s stock worth $9,918,000 after buying an additional 50,401 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Keurig Dr Pepper by 212.8% during the 3rd quarter. Intech Investment Management LLC now owns 115,754 shares of the company’s stock valued at $4,338,000 after buying an additional 78,752 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

KDP stock opened at $32.66 on Monday. The stock has a market capitalization of $44.30 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.49 and a beta of 0.63. The firm’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $34.72. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $0.48 EPS. Keurig Dr Pepper’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.23 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada increased their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Citigroup dropped their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Jefferies Financial Group reduced their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, TD Cowen boosted their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

About Keurig Dr Pepper

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.