Private Capital Management LLC Decreases Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Private Capital Management LLC lessened its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 12.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the company’s stock after selling 2,000 shares during the quarter. Private Capital Management LLC’s holdings in Keurig Dr Pepper were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KDP. Perigon Wealth Management LLC boosted its position in Keurig Dr Pepper by 1.2% during the fourth quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after purchasing an additional 342 shares in the last quarter. Custom Index Systems LLC raised its stake in shares of Keurig Dr Pepper by 5.3% during the 4th quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock worth $228,000 after buying an additional 357 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Keurig Dr Pepper by 5.2% in the 4th quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock worth $250,000 after buying an additional 384 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Keurig Dr Pepper by 2.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 14,198 shares of the company’s stock valued at $532,000 after acquiring an additional 400 shares during the last quarter. Finally, CX Institutional increased its holdings in Keurig Dr Pepper by 5.0% during the 4th quarter. CX Institutional now owns 8,534 shares of the company’s stock valued at $274,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KDP. Morgan Stanley upped their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler assumed coverage on Keurig Dr Pepper in a report on Tuesday. They set a “neutral” rating and a $35.00 target price on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. Finally, TD Cowen decreased their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper Stock Down 0.4 %

Shares of NASDAQ:KDP opened at $33.60 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 cap of $45.57 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.42 and a beta of 0.61. The stock’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $33.94. 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 earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the acquisition, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.