Bridgewater Associates LP Decreases Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bridgewater Associates LP reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 59.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 457,970 shares of the company’s stock after selling 662,922 shares during the quarter. Bridgewater Associates LP’s holdings in Keurig Dr Pepper were worth $17,165,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KDP. FMR LLC grew its stake in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after acquiring an additional 9,105,164 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after purchasing an additional 1,878,597 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at approximately $37,643,000. Armistice Capital LLC boosted its holdings in shares of Keurig Dr Pepper by 186.3% in the 2nd quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after buying an additional 966,924 shares during the period. Finally, Public Sector Pension Investment Board grew its position in shares of Keurig Dr Pepper by 5,018.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 839,057 shares of the company’s stock valued at $28,025,000 after buying an additional 822,664 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KDP has been the subject of a number of research reports. TD Cowen lifted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Wells Fargo & Company dropped their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Citigroup reduced their price objective on shares of 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 target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $38.36.

Keurig Dr Pepper Stock Down 0.2 %

KDP stock opened at $32.58 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.53 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. The company has a 50 day moving average of $34.92 and a two-hundred day moving average of $34.68. The company has a market cap of $44.19 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.54 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Company Profile

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.