Corient Private Wealth LLC Cuts Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Corient Private Wealth LLC trimmed its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 143,204 shares of the company’s stock after selling 4,622 shares during the quarter. Corient Private Wealth LLC’s holdings in Keurig Dr Pepper were worth $4,600,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC raised its holdings in shares of Keurig Dr Pepper by 9.8% in the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. State Street Corp grew its stake in shares of Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after buying an additional 4,970,467 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 2.7% in the third quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock valued at $841,886,000 after buying an additional 591,316 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Keurig Dr Pepper by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,378,207 shares of the company’s stock valued at $488,463,000 after buying an additional 59,464 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Keurig Dr Pepper by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 7,304,769 shares of the company’s stock valued at $234,629,000 after buying an additional 342,715 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $33.55 on Friday. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.42 and a beta of 0.62. The stock has a 50 day moving average of $32.44 and a 200-day moving average of $33.68. 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 52 week low of $29.53 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is 87.62%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KDP. Barclays set a $39.00 target price on Keurig Dr Pepper in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler began coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 target price for the company. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Finally, UBS Group restated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $38.23.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 7,350 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total value of $251,149.50. Following the sale, the vice president now owns 74,587 shares of the company’s stock, valued at approximately $2,548,637.79. This trade represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the completion of the sale, the insider now directly owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,397,350 shares of company stock valued at $2,756,292,570. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper 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.