Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.8% during the fourth quarter, HoldingsChannel reports. The firm owned 10,077 shares of the company’s stock after selling 856 shares during the period. Asset Dedication LLC’s holdings in Keurig Dr Pepper were worth $324,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Keurig Dr Pepper by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 626,393 shares of the company’s stock valued at $20,922,000 after buying an additional 9,999 shares during the period. Creative Planning raised its holdings in Keurig Dr Pepper by 73.6% during the second quarter. Creative Planning now owns 65,691 shares of the company’s stock worth $2,194,000 after purchasing an additional 27,860 shares in the last quarter. Quarry LP lifted its position in Keurig Dr Pepper by 96.8% in the second quarter. Quarry LP now owns 2,489 shares of the company’s stock valued at $83,000 after purchasing an additional 1,224 shares during the period. Truist Financial Corp boosted its holdings in Keurig Dr Pepper by 169.3% in the 2nd quarter. Truist Financial Corp now owns 238,251 shares of the company’s stock valued at $7,958,000 after purchasing an additional 149,776 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $2,564,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their target price for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Piper Sandler started coverage on Keurig Dr Pepper in a report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price target on the stock. Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $31.86 on Thursday. The company has a 50-day simple moving average of $32.13 and a 200-day simple moving average of $34.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The company has a market cap of $43.22 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62. Keurig Dr Pepper Inc. has a 12 month low of $28.61 and a 12 month high of $38.28.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.23 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 2.89%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

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.