Advisors Asset Management Inc. cut its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 28.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,591 shares of the company's stock after selling 45,563 shares during the period. Advisors Asset Management Inc.'s holdings in Keurig Dr Pepper were worth $4,257,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper during the third quarter valued at $25,000. Blue Trust Inc. grew its holdings in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company's stock worth $26,000 after buying an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company's stock valued at $27,000 after buying an additional 685 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company's stock valued at $30,000 after buying an additional 301 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in Keurig Dr Pepper in the 2nd quarter worth approximately $35,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.
In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This 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. Corporate insiders own 1.00% of the company's stock.
A number of equities research analysts have recently commented on the company. 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 report on Friday, October 25th. Jefferies Financial Group decreased their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Finally, Citigroup dropped their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.36.
Check Out Our Latest Research Report on Keurig Dr Pepper
Keurig Dr Pepper stock opened at $32.66 on Friday. 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 Inc. has a one year low of $28.61 and a one year high of $38.28. The stock's 50 day moving average price is $35.20 and its 200 day moving average price is $34.70. The firm has a market capitalization of $44.30 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share 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 business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.
The firm 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. The ex-dividend date was Friday, September 27th. This is an increase 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 dividend payout ratio (DPR) is currently 55.76%.
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.
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