MetLife Investment Management LLC Cuts Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

MetLife Investment Management LLC trimmed its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 275,082 shares of the company’s stock after selling 3,620 shares during the period. MetLife Investment Management LLC’s holdings in Keurig Dr Pepper were worth $10,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of KDP. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Keurig Dr Pepper by 5.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 965,290 shares of the company’s stock worth $36,179,000 after purchasing an additional 46,339 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Keurig Dr Pepper by 1.9% during the third quarter. Glenmede Trust Co. NA now owns 28,593 shares of the company’s stock valued at $1,072,000 after purchasing an additional 524 shares during the period. Townsquare Capital LLC increased its position in Keurig Dr Pepper by 38.4% in the third quarter. Townsquare Capital LLC now owns 15,407 shares of the company’s stock worth $577,000 after buying an additional 4,275 shares during the last quarter. Avestar Capital LLC raised its stake in shares of Keurig Dr Pepper by 10.2% in the third quarter. Avestar Capital LLC now owns 19,648 shares of the company’s stock valued at $736,000 after buying an additional 1,825 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Keurig Dr Pepper during the 3rd quarter valued at $61,000. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KDP shares. JPMorgan Chase & Co. decreased their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen boosted 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. Citigroup cut 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 report on Friday, October 25th. Jefferies Financial Group reduced their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Stock Down 0.2 %

Shares of NASDAQ KDP opened at $32.58 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 business has a 50-day moving average of $34.82 and a 200-day moving average of $34.67. The firm has a market capitalization of $44.19 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.54 and a beta of 0.63. Keurig Dr Pepper Inc. has a 12 month low of $28.61 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. Sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

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

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.