Hollencrest Capital Management Cuts Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Hollencrest Capital Management cut its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,541 shares of the company’s stock after selling 1,459 shares during the quarter. Hollencrest Capital Management’s holdings in Keurig Dr Pepper were worth $1,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KDP. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares during the period. Blue Trust Inc. increased its position in Keurig Dr Pepper by 312.1% during the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after purchasing an additional 643 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after buying an additional 301 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $35,000. Finally, Riverview Trust Co purchased a new stake in shares of Keurig Dr Pepper in the second quarter valued at approximately $39,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Barclays lowered their target price on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. UBS Group boosted their price target on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. dropped their price target on 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. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

Keurig Dr Pepper Price Performance

KDP stock opened at $37.50 on Friday. The company has a 50 day moving average price of $35.17 and a two-hundred day moving average price of $33.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The stock has a market capitalization of $50.83 billion, a P/E ratio of 24.19, a PEG ratio of 2.79 and a beta of 0.62. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $37.84.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.23 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, September 27th. Keurig Dr Pepper’s payout ratio is currently 59.35%.

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.