Keurig Dr Pepper, Inc $KDP Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 66.4% during the third quarter, Holdings Channel reports. The institutional investor owned 831,065 shares of the company’s stock after selling 1,641,051 shares during the period. King Luther Capital Management Corp’s holdings in Keurig Dr Pepper were worth $21,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock valued at $530,000 after purchasing an additional 3,627 shares in the last quarter. Empowered Funds LLC grew its holdings in Keurig Dr Pepper by 248.0% in the first quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock valued at $2,389,000 after purchasing an additional 49,741 shares during the last quarter. Woodline Partners LP increased its position in shares of Keurig Dr Pepper by 49.2% in the first quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after buying an additional 33,258 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter worth $328,000. Finally, Private Trust Co. NA boosted its position in shares of Keurig Dr Pepper by 26.4% in the 2nd quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $54,000 after buying an additional 339 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $29.10 on Friday. The company has a market cap of $39.53 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.99 and a beta of 0.34. The business has a fifty day simple moving average of $28.13 and a 200-day simple moving average of $28.39. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.92 annualized dividend and a yield of 3.2%. Keurig Dr Pepper’s payout ratio is 79.31%.

Analysts Set New Price Targets

KDP has been the subject of several recent research reports. Barclays raised their target price on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Wells Fargo & Company lifted their price objective on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. UBS Group reaffirmed a “buy” rating and issued a $35.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Jefferies Financial Group cut Keurig Dr Pepper from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $32.00 in a report on Tuesday, December 16th. Finally, Piper Sandler boosted their price target on Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.87.

Insider Activity at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the vice president directly owned 54,200 shares in the company, valued at $1,599,984. This represents a 15.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.