Palouse Capital Management Inc. Has $3.76 Million Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Palouse Capital Management Inc. reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,574 shares of the company’s stock after selling 1,858 shares during the quarter. Keurig Dr Pepper accounts for 2.5% of Palouse Capital Management Inc.’s portfolio, making the stock its 10th largest position. Palouse Capital Management Inc.’s holdings in Keurig Dr Pepper were worth $3,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Capital World Investors grew its position in Keurig Dr Pepper by 14.6% in the fourth quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock valued at $3,599,652,000 after purchasing an additional 13,738,345 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Keurig Dr Pepper by 107.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares during the last quarter. Vanguard Group Inc. grew its stake in Keurig Dr Pepper by 9.4% in 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 in the last quarter. Pathstone Holdings LLC acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth approximately $105,569,000. Finally, Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 41.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after buying an additional 1,878,597 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Barclays decreased their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company increased their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Finally, Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and boosted their price target for the company from $27.00 to $34.00 in a research note on Monday, June 17th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $37.50 on Thursday. The business has a fifty day moving average price of $35.17 and a two-hundred day moving average price of $33.35. The stock has a market capitalization of $50.83 billion, a PE ratio of 24.19, a P/E/G ratio of 2.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $37.84.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Keurig Dr Pepper’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is 59.35%.

Keurig Dr Pepper Company 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.