Coronation Fund Managers Ltd. Sells 177,789 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Coronation Fund Managers Ltd. cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 37.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,156 shares of the company’s stock after selling 177,789 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Keurig Dr Pepper were worth $10,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KDP. Farmers & Merchants Investments Inc. grew 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 valued at $30,000 after purchasing an additional 301 shares during the period. Federated Hermes Inc. raised its position in Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after acquiring an additional 314 shares during the period. Morningstar Investment Management LLC boosted its stake in shares of Keurig Dr Pepper by 1.1% during the 4th quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock worth $1,051,000 after acquiring an additional 328 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Keurig Dr Pepper by 29.0% during the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock worth $53,000 after acquiring an additional 392 shares during the last quarter. Finally, Mckinley Capital Management LLC grew its position in shares of Keurig Dr Pepper by 1.6% during the 1st quarter. Mckinley Capital Management LLC now owns 37,112 shares of the company’s stock valued at $1,138,000 after acquiring an additional 595 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KDP has been the topic of a number of recent research reports. UBS Group raised their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a report on Friday, July 26th. TD Cowen lifted their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, BNP Paribas initiated coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They issued a “neutral” rating and a $36.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.53.

Keurig Dr Pepper Stock Down 0.8 %

Shares of KDP stock opened at $37.19 on Wednesday. The stock has a market cap of $50.41 billion, a P/E ratio of 23.99, a PEG ratio of 2.86 and a beta of 0.62. The company’s fifty day simple moving average is $36.03 and its two-hundred day simple moving average is $33.92. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced 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 company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. 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.