Shell Asset Management Co. Sells 10,822 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Shell Asset Management Co. lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 24.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,908 shares of the company’s stock after selling 10,822 shares during the quarter. Shell Asset Management Co.’s holdings in Keurig Dr Pepper were worth $1,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Capital World Investors boosted its position in shares of Keurig Dr Pepper by 14.6% during the fourth quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock worth $3,599,652,000 after acquiring an additional 13,738,345 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 9.4% during the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after purchasing an additional 7,825,418 shares in the last quarter. Capital International Investors grew its position in shares of Keurig Dr Pepper by 1.3% during the fourth quarter. Capital International Investors now owns 56,060,464 shares of the company’s stock valued at $1,867,937,000 after purchasing an additional 730,112 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Keurig Dr Pepper by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,213,050 shares of the company’s stock worth $506,899,000 after purchasing an additional 1,518,286 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter worth about $317,979,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a report on Friday. Wells Fargo & Company upped their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their price target for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Finally, BNP Paribas started coverage on Keurig Dr Pepper in a research note on Monday, June 24th. They set a “neutral” rating and a $36.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.50.

Keurig Dr Pepper Stock Up 1.6 %

NASDAQ:KDP opened at $33.74 on Friday. The stock has a fifty day simple moving average of $33.61 and a 200-day simple moving average of $32.11. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $45.74 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $35.00.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.215 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.86 annualized dividend and a dividend yield of 2.55%. Keurig Dr Pepper’s payout ratio is currently 55.48%.

Insider Buying and Selling

In other news, VP Angela A. Stephens sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $33.61, for a total value of $840,250.00. Following the completion of the sale, the vice president now owns 76,081 shares of the company’s stock, valued at approximately $2,557,082.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Angela A. Stephens sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $33.61, for a total value of $840,250.00. Following the completion of the transaction, the vice president now directly owns 76,081 shares of the company’s stock, valued at approximately $2,557,082.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Matthew Andrew Archambault sold 8,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $34.19, for a total value of $273,520.00. Following the completion of the transaction, the insider now owns 12,565 shares in the company, valued at approximately $429,597.35. The disclosure for this sale can be found here. Insiders sold a total of 50,293 shares of company stock valued at $1,694,642 over the last three months. 1.00% of the stock is owned by company insiders.

Keurig Dr Pepper 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.