Advisors Asset Management Inc. Cuts Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Advisors Asset Management Inc. reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,851 shares of the company’s stock after selling 43,740 shares during the quarter. Advisors Asset Management Inc.’s holdings in Keurig Dr Pepper were worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Piper Sandler started coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 target price for the company. TD Cowen decreased their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, Barclays set a $39.00 target price on Keurig Dr Pepper in a research report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

Insider Buying and Selling at Keurig Dr Pepper

In other news, Chairman Robert James Gamgort sold 416,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the purchase, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 84,397,350 shares of company stock worth $2,756,292,570 over the last quarter. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

KDP stock opened at $33.55 on Friday. The business has a 50-day moving average price of $32.44 and a 200 day moving average price of $33.65. Keurig Dr Pepper Inc. has a 1-year low of $29.86 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The company has a market capitalization of $45.52 billion, a P/E ratio of 20.33, a PEG ratio of 2.42 and a beta of 0.62.

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

Keurig Dr Pepper Announces Dividend

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

Keurig Dr Pepper Company 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.