Balyasny Asset Management L.P. Lowers Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Balyasny Asset Management L.P. cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 50.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246,325 shares of the company's stock after selling 2,321,478 shares during the period. Balyasny Asset Management L.P. owned approximately 0.17% of Keurig Dr Pepper worth $72,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in KDP. Vanguard Group Inc. lifted its holdings in Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock valued at $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Keurig Dr Pepper by 65.0% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company's stock worth $681,579,000 after purchasing an additional 8,363,192 shares during the period. Norges Bank purchased a new position in shares of Keurig Dr Pepper during the 4th quarter worth $197,819,000. Finally, Wellington Management Group LLP increased its position in shares of Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock worth $1,946,561,000 after purchasing an additional 5,646,179 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Analyst Ratings Changes

KDP has been the subject of a number of recent analyst reports. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price target for the company from $36.00 to $42.00 in a research report on Friday, April 25th. Argus initiated coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 target price on the stock. Barclays upped their price target on Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Morgan Stanley raised Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of Keurig Dr Pepper in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average target price of $39.33.

Keurig Dr Pepper Stock Down 1.8 %

Shares of NASDAQ:KDP traded down $0.60 on Friday, hitting $33.54. 10,315,658 shares of the company's stock were exchanged, compared to its average volume of 10,492,387. Keurig Dr Pepper Inc. has a 1-year low of $30.12 and a 1-year high of $38.28. The company has a market capitalization of $45.55 billion, a PE ratio of 20.33, a P/E/G ratio of 2.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The firm's 50-day moving average is $34.21 and its 200 day moving average is $33.03.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.23 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 83.64%.

Insider Activity at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the completion of the sale, the insider now owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Angela A. Stephens sold 7,350 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the transaction, the vice president now owns 74,587 shares in the company, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,863,850 shares of company stock valued at $2,772,203,450 over the last ninety days. Insiders own 0.40% of the company's stock.

Keurig Dr Pepper 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.