Victory Capital Management Inc. Reduces Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Victory Capital Management Inc. reduced its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,244,562 shares of the company’s stock after selling 11,485 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Keurig Dr Pepper worth $121,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CX Institutional boosted its position in Keurig Dr Pepper by 3.6% during the 3rd quarter. CX Institutional now owns 8,129 shares of the company’s stock valued at $305,000 after acquiring an additional 283 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Keurig Dr Pepper by 3.6% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock worth $320,000 after buying an additional 300 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after buying an additional 301 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Keurig Dr Pepper by 21.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after acquiring an additional 314 shares during the period. Finally, Mather Group LLC. increased its position in shares of Keurig Dr Pepper by 29.0% in the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after acquiring an additional 392 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $33.34 on Wednesday. The firm has a 50-day simple moving average of $35.98 and a 200-day simple moving average of $34.79. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. On average, equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Analysts Set New Price Targets

Several research firms have weighed in on KDP. JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group lowered their price target on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $38.36.

Insiders Place Their Bets

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The shares were 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 of the company’s stock, valued at $7,001,592,649.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.