Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,116 shares of the company’s stock after selling 4,913 shares during the period. Metis Global Partners LLC’s holdings in Keurig Dr Pepper were worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KDP. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 9.4% during the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after purchasing an additional 7,825,418 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Keurig Dr Pepper by 107.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock worth $725,487,000 after purchasing an additional 12,259,471 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after acquiring an additional 730,297 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after purchasing an additional 317,837 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Keurig Dr Pepper by 6.5% during the second quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock valued at $333,057,000 after acquiring an additional 609,857 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on KDP shares. Wells Fargo & Company cut their price target on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Royal Bank of Canada raised their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Citigroup dropped their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $31.66 on Friday. The stock has a market cap of $42.95 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The stock’s 50-day moving average is $35.73 and its 200-day moving average is $34.76. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $0.48 EPS. Keurig Dr Pepper’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.91%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the transaction, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Profile

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.