Itau Unibanco Holding S.A. Lowers Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Itau Unibanco Holding S.A. reduced its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 23.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,058 shares of the company’s stock after selling 21,642 shares during the period. Itau Unibanco Holding S.A.’s holdings in Keurig Dr Pepper were worth $2,407,000 as of its most recent SEC filing.

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

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $37.46 on Friday. The firm has a market capitalization of $50.78 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62. The company has a 50 day moving average price of $35.37 and a 200 day moving average price of $33.44. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $37.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51.

Keurig Dr Pepper (NASDAQ:KDP) last issued 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. 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 for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is presently 59.35%.

Analyst Ratings Changes

Several brokerages have recently commented on KDP. Barclays decreased their price target on 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. lowered their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada reissued 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, UBS Group lifted their target price on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.