King Luther Capital Management Corp Has $20.43 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

King Luther Capital Management Corp decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 611,555 shares of the company’s stock after selling 131,355 shares during the quarter. King Luther Capital Management Corp’s holdings in Keurig Dr Pepper were worth $20,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Commonwealth Equity Services LLC grew its holdings in Keurig Dr Pepper by 254.6% during the first quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after purchasing an additional 68,840 shares during the last quarter. Franklin Resources Inc. grew its stake in Keurig Dr Pepper by 608.0% in the 4th quarter. Franklin Resources Inc. now owns 813,578 shares of the company’s stock valued at $27,108,000 after buying an additional 698,665 shares during the last quarter. Twin Tree Management LP bought a new position in Keurig Dr Pepper in the 1st quarter worth $512,000. Confluence Investment Management LLC acquired a new position in Keurig Dr Pepper during the 1st quarter worth $11,375,000. Finally, PBCay One RSC Ltd acquired a new position in Keurig Dr Pepper during the 4th quarter worth $1,543,000. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $37.46 on Friday. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $37.84. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The stock has a market cap of $50.78 billion, a P/E ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.62. The company’s 50-day simple moving average is $35.37 and its 200 day simple moving average is $33.44.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. As a group, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 59.35%.

Analyst Upgrades and Downgrades

KDP has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas assumed coverage on Keurig Dr Pepper in a research report on Monday, June 24th. They issued a “neutral” rating and a $36.00 price target on the stock. Wells Fargo & Company upped their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. 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. Finally, Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Monday, June 17th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.50.

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.