King Luther Capital Management Corp Purchases 767,298 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

King Luther Capital Management Corp raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 125.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,378,853 shares of the company’s stock after buying an additional 767,298 shares during the quarter. King Luther Capital Management Corp’s holdings in Keurig Dr Pepper were worth $51,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its holdings in shares of Keurig Dr Pepper by 38.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,732 shares of the company’s stock worth $483,000 after buying an additional 4,351 shares during the last quarter. Capital International Inc. CA grew its holdings in Keurig Dr Pepper by 26.0% during the 1st quarter. Capital International Inc. CA now owns 432,056 shares of the company’s stock valued at $13,251,000 after buying an additional 89,178 shares in the last quarter. Capital International Sarl increased its holdings in Keurig Dr Pepper by 23.2% during the 1st quarter. Capital International Sarl now owns 109,305 shares of the company’s stock worth $3,352,000 after acquiring an additional 20,592 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Keurig Dr Pepper by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,060,093 shares of the company’s stock worth $93,853,000 after buying an additional 100,036 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at about $8,877,000. 85.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Keurig Dr Pepper

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

Keurig Dr Pepper Stock Performance

KDP opened at $32.04 on Thursday. The company has a fifty day moving average of $35.40 and a 200 day moving average of $34.73. 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 market capitalization of $43.46 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.45 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 issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.23 per share. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group lowered their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Barclays dropped their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada upped their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

About Keurig Dr Pepper

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.