Keurig Dr Pepper, Inc $KDP Stock: Private Management Group Inc. Cuts Stake

Private Management Group Inc. lessened its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,503,528 shares of the company’s stock after selling 23,606 shares during the quarter. Keurig Dr Pepper comprises 1.1% of Private Management Group Inc.’s portfolio, making the stock its 11th largest holding. Private Management Group Inc. owned approximately 0.11% of Keurig Dr Pepper worth $45,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Keurig Dr Pepper during the second quarter worth about $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Keurig Dr Pepper in the 2nd quarter worth $767,105,000. Dimensional Fund Advisors LP raised its position in shares of Keurig Dr Pepper by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,585,791 shares of the company’s stock valued at $252,408,000 after buying an additional 103,505 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth $281,503,000. Finally, Legal & General Group Plc purchased a new position in Keurig Dr Pepper in the second quarter worth $269,336,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Up 0.8%

NASDAQ KDP opened at $36.94 on Tuesday. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $37.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.28 and a current ratio of 0.52. The stock has a 50 day simple moving average of $32.96 and a two-hundred day simple moving average of $30.25. The stock has a market cap of $50.27 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.35.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Keurig Dr Pepper had a return on equity of 11.27% and a net margin of 7.12%. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.33 billion. During the same period last year, the company earned $0.54 EPS. The business’s quarterly revenue was up 70.6% compared to the same quarter last year. On average, analysts forecast that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.92 annualized dividend and a yield of 2.5%. Keurig Dr Pepper’s payout ratio is 84.40%.

Insider Activity at Keurig Dr Pepper

In related news, Director Aaron Alt acquired 7,862 shares of Keurig Dr Pepper stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $31.83 per share, with a total value of $250,247.46. Following the transaction, the director owned 7,862 shares in the company, valued at $250,247.46. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total transaction of $390,600.00. Following the transaction, the insider directly owned 84,171 shares in the company, valued at approximately $2,739,766.05. The trade was a 12.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KDP. Barclays raised their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. HSBC upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $40.00 in a research report on Thursday, August 13th. TD Cowen increased their price target on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, November 4th. Evercore boosted their price objective on shares of Keurig Dr Pepper from $30.00 to $32.00 in a report on Thursday, October 8th. Finally, UBS Group increased their target price on shares of Keurig Dr Pepper from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.