Keurig Dr Pepper Inc. (NASDAQ:KDP) Position Trimmed by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,133 shares of the company’s stock after selling 9,895 shares during the period. HBK Sorce Advisory LLC’s holdings in Keurig Dr Pepper were worth $582,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ increased its position in Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock worth $10,400,000 after buying an additional 112,819 shares during the period. Swiss National Bank boosted its holdings in shares of Keurig Dr Pepper by 1.2% during the fourth quarter. Swiss National Bank now owns 3,256,300 shares of the company’s stock valued at $104,592,000 after acquiring an additional 37,300 shares during the period. Securian Asset Management Inc. boosted its holdings in shares of Keurig Dr Pepper by 3.6% during the fourth quarter. Securian Asset Management Inc. now owns 60,509 shares of the company’s stock valued at $1,944,000 after acquiring an additional 2,103 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Keurig Dr Pepper by 11.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,172 shares of the company’s stock valued at $455,000 after acquiring an additional 1,433 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in shares of Keurig Dr Pepper by 6.4% during the fourth quarter. King Luther Capital Management Corp now owns 1,467,618 shares of the company’s stock valued at $47,140,000 after acquiring an additional 88,765 shares during the period. Institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KDP. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley boosted their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Piper Sandler began coverage on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target for the company. Finally, UBS Group restated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of Keurig Dr Pepper stock in a transaction dated 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 transaction, the insider now owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the transaction, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. This represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,385,350 shares of company stock worth $2,755,891,890. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $33.59 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $32.17 and its two-hundred day moving average price is $33.78. Keurig Dr Pepper Inc. has a 52 week low of $28.62 and a 52 week high of $38.28. The stock has a market cap of $45.57 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly 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. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $0.55 earnings per share. Keurig Dr Pepper’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

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

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.