Perpetual Ltd Lowers Stake in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Perpetual Ltd reduced its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 863,176 shares of the company’s stock after selling 13,402 shares during the period. Perpetual Ltd owned approximately 0.06% of Keurig Dr Pepper worth $29,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock valued at $1,946,561,000 after purchasing an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after purchasing an additional 14,473,054 shares during the period. Geode Capital Management LLC raised its position in Keurig Dr Pepper by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company’s stock worth $784,974,000 after purchasing an additional 1,962,195 shares during the period. Finally, Invesco Ltd. lifted its stake in Keurig Dr Pepper by 19.6% in the fourth quarter. Invesco Ltd. now owns 21,605,610 shares of the company’s stock worth $693,972,000 after purchasing an additional 3,539,463 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Trading Up 0.2%

NASDAQ:KDP opened at $33.04 on Friday. The company has a 50-day moving average price of $33.58 and a 200-day moving average price of $33.10. The stock has a market cap of $44.87 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 2.54 and a beta of 0.48. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. Keurig Dr Pepper, Inc has a 12 month low of $30.12 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.57 billion. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. Keurig Dr Pepper’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Equities analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.78%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 83.64%.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of recent research reports. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. HSBC upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. UBS Group boosted their price objective on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Argus initiated coverage on Keurig Dr Pepper in a research note on Wednesday, April 16th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Piper Sandler upgraded shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Insiders Place Their Bets

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $33.64, for a total transaction of $403,680.00. Following the completion of the transaction, the insider now owns 106,511 shares of the company’s stock, valued at $3,583,030.04. This trade represents a 10.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Angela A. Stephens sold 14,500 shares of Keurig Dr Pepper stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following the transaction, the vice president now owns 62,411 shares of the company’s stock, valued at $2,136,952.64. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 698,500 shares of company stock worth $23,594,400. 0.40% of the stock is owned by corporate insiders.

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.