Applied Finance Capital Management LLC Cuts Stock Holdings in Keurig Dr Pepper, Inc $KDP

Applied Finance Capital Management LLC trimmed its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 6.3% during the 3rd quarter, Holdings Channel reports. The firm owned 470,578 shares of the company’s stock after selling 31,866 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Keurig Dr Pepper were worth $12,005,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Keurig Dr Pepper in the 2nd quarter worth $568,525,000. Vanguard Group Inc. lifted its holdings in shares of Keurig Dr Pepper by 9.8% during the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after acquiring an additional 14,244,768 shares during the last quarter. Invesco Ltd. grew its position in Keurig Dr Pepper by 43.2% in the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after acquiring an additional 9,494,503 shares in the last quarter. State Street Corp grew its position in Keurig Dr Pepper by 11.2% in the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after acquiring an additional 6,412,494 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Keurig Dr Pepper by 13.5% in the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after acquiring an additional 3,595,579 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on KDP. UBS Group reaffirmed a “buy” rating and set a $35.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Piper Sandler raised their price objective on Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Barclays boosted their target price on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.87.

Insider Buying and Selling at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Up 0.4%

NASDAQ KDP opened at $28.51 on Tuesday. The firm has a market cap of $38.73 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.34. Keurig Dr Pepper, Inc has a 1-year low of $25.03 and a 1-year high of $36.12. The stock has a 50-day moving average of $28.04 and a 200-day moving average of $28.54. The company has a current ratio of 0.62, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Keurig Dr Pepper’s dividend payout ratio is 79.31%.

Keurig Dr Pepper Company Profile

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.