Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Lexington Partners L.P.

Lexington Partners L.P. cut its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 45.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,651,756 shares of the company’s stock after selling 1,349,492 shares during the quarter. Keurig Dr Pepper makes up approximately 62.0% of Lexington Partners L.P.’s holdings, making the stock its largest holding. Lexington Partners L.P. owned about 0.12% of Keurig Dr Pepper worth $55,169,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after acquiring an additional 685 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Keurig Dr Pepper by 312.1% during the second 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. grew its holdings 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 acquiring an additional 301 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Keurig Dr Pepper in the 2nd quarter worth about $35,000. Finally, Riverview Trust Co acquired a new position in Keurig Dr Pepper in the second quarter worth approximately $39,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $37.19 on Wednesday. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $38.28. The company has a market capitalization of $50.41 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.86 and a beta of 0.62. The company has a 50-day simple moving average of $36.03 and a 200 day simple moving average of $33.92. 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 posted its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The company 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current 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 paid a $0.23 dividend. 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. This represents a $0.92 annualized dividend and a dividend yield of 2.47%. Keurig Dr Pepper’s dividend payout ratio is 59.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KDP. BNP Paribas began coverage on Keurig Dr Pepper in a report on Monday, June 24th. They set a “neutral” rating and a $36.00 price objective on the stock. Truist Financial raised shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their price objective for the company from $27.00 to $34.00 in a research report on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. TD Cowen increased their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.53.

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.