Icon Wealth Advisors LLC Sells 39,737 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Icon Wealth Advisors LLC lessened its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 95.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,884 shares of the company’s stock after selling 39,737 shares during the period. Icon Wealth Advisors LLC’s holdings in Keurig Dr Pepper were worth $71,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KDP. Allspring Global Investments Holdings LLC increased its position in shares of Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after buying an additional 730,297 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock worth $445,648,000 after purchasing an additional 317,837 shares in the last quarter. Legal & General Group Plc grew its position in shares of Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock worth $333,057,000 after buying an additional 609,857 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Keurig Dr Pepper by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company’s stock valued at $238,163,000 after acquiring an additional 171,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Keurig Dr Pepper by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after acquiring an additional 1,878,597 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on KDP. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. TD Cowen raised their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. lowered their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Citigroup reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.36.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Stock Up 1.3 %

KDP stock opened at $32.66 on Monday. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The stock has a fifty day moving average of $35.20 and a 200-day moving average of $34.72. The company has a market capitalization of $44.30 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.23 dividend. The ex-dividend date was Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. Keurig Dr Pepper’s payout ratio is 55.76%.

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.