Wellington Management Group LLP Sells 240,009 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Wellington Management Group LLP lessened its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,956,602 shares of the company’s stock after selling 240,009 shares during the quarter. Wellington Management Group LLP owned 4.05% of Keurig Dr Pepper worth $2,059,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after buying an additional 9,105,164 shares during the last quarter. State Street Corp lifted its position in shares of Keurig Dr Pepper by 10.9% during the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after buying an additional 4,970,467 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after buying an additional 730,297 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Keurig Dr Pepper by 2.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after buying an additional 317,837 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock worth $333,057,000 after purchasing an additional 609,857 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’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 transaction, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $32.98 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 firm has a market capitalization of $44.74 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.50 and a beta of 0.61. The business’s 50-day moving average price is $34.31 and its 200-day moving average price is $34.62. 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 announced its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $0.48 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.79%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KDP. TD Cowen increased their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Wells Fargo & Company dropped their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Barclays dropped their price objective on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock 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 on the stock in a report on Friday, October 25th. Seven equities research 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 company currently has an average rating of “Moderate Buy” and a consensus target price 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.