PNC Financial Services Group Inc. Cuts Position in Keurig Dr Pepper, Inc $KDP

PNC Financial Services Group Inc. decreased its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 45.6% during the third quarter, HoldingsChannel.com reports. The fund owned 121,773 shares of the company’s stock after selling 101,920 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Keurig Dr Pepper were worth $3,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC increased its position in Keurig Dr Pepper by 94.1% in the second quarter. NewSquare Capital LLC now owns 796 shares of the company’s stock worth $26,000 after purchasing an additional 386 shares during the last quarter. AlphaCore Capital LLC purchased a new position in shares of Keurig Dr Pepper in the 2nd quarter worth $26,000. Root Financial Partners LLC bought a new stake in shares of Keurig Dr Pepper in the 3rd quarter worth about $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Keurig Dr Pepper by 102,300.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company’s stock worth $34,000 after buying an additional 1,023 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Keurig Dr Pepper by 71.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock valued at $30,000 after buying an additional 484 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $29.54 on Friday. The stock has a 50 day moving average price of $28.13 and a 200 day moving average price of $28.33. Keurig Dr Pepper, Inc has a 52-week low of $25.03 and a 52-week high of $36.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. The firm has a market capitalization of $40.13 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.02 and a beta of 0.34.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the vice president owned 54,200 shares of the company’s stock, valued at $1,599,984. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company lifted their price target on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Wednesday, January 28th. Jefferies Financial Group lowered Keurig Dr Pepper from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $32.00 in a report on Tuesday, December 16th. Piper Sandler raised their price target on Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Finally, Barclays boosted their price objective on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.87.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.