King Luther Capital Management Corp decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) 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 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.
Read Our Latest Report on Keurig Dr Pepper
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.
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