CIBC Asset Management Inc Sells 98,931 Shares of Keurig Dr Pepper, Inc $KDP

CIBC Asset Management Inc lessened its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 592,151 shares of the company’s stock after selling 98,931 shares during the quarter. CIBC Asset Management Inc’s holdings in Keurig Dr Pepper were worth $16,586,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Keurig Dr Pepper in the 4th quarter valued at about $568,361,000. Marshall Wace LLP raised its holdings in shares of Keurig Dr Pepper by 1,546.0% in the 3rd quarter. Marshall Wace LLP now owns 2,937,129 shares of the company’s stock valued at $74,926,000 after purchasing an additional 2,758,685 shares during the period. Man Group plc lifted its stake in Keurig Dr Pepper by 4,084.2% in the 3rd quarter. Man Group plc now owns 2,411,713 shares of the company’s stock valued at $61,523,000 after purchasing an additional 2,354,075 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Keurig Dr Pepper by 2,129.0% in the 3rd quarter. Voloridge Investment Management LLC now owns 2,374,879 shares of the company’s stock valued at $60,583,000 after purchasing an additional 2,268,336 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Keurig Dr Pepper by 90.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,161,158 shares of the company’s stock worth $115,597,000 after purchasing an additional 1,973,269 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 1.6%

Shares of NASDAQ:KDP opened at $30.06 on Friday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $35.94. The stock has a market cap of $40.90 billion, a PE ratio of 22.27, a P/E/G ratio of 1.40 and a beta of 0.41. The business has a 50 day moving average of $27.92 and a 200-day moving average of $28.09. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their price objective on Keurig Dr Pepper from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Evercore set a $30.00 target price on Keurig Dr Pepper in a research note on Friday, April 24th. JPMorgan Chase & Co. increased their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Citigroup cut their price target on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper has an average rating of “Hold” and an average price target of $31.57.

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.