Allspring Global Investments Holdings LLC Lowers Stock Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Keurig Dr Pepper by 0.5%, owning 14,631,284 shares as of the second quarter, making it the fund's 13th largest position.
• Keurig Dr Pepper reported $4.16 billion in revenue for the last quarter, slightly above expectations, with a net margin of 9.75% and quarterly EPS matching the consensus at $0.49.
• The company declared a quarterly dividend of $0.23 per share, yielding 3.6%, with a payout ratio of 82.14%.

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,631,284 shares of the company's stock after selling 78,178 shares during the period. Keurig Dr Pepper makes up approximately 0.8% of Allspring Global Investments Holdings LLC's holdings, making the stock its 13th largest position. Allspring Global Investments Holdings LLC owned approximately 1.08% of Keurig Dr Pepper worth $491,172,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Croban increased its position in shares of Keurig Dr Pepper by 0.9% during the second quarter. Croban now owns 31,849 shares of the company's stock valued at $1,053,000 after acquiring an additional 294 shares in the last quarter. Commerce Bank increased its position in shares of Keurig Dr Pepper by 1.6% during the first quarter. Commerce Bank now owns 21,513 shares of the company's stock valued at $736,000 after acquiring an additional 340 shares in the last quarter. First American Bank increased its position in shares of Keurig Dr Pepper by 0.6% during the first quarter. First American Bank now owns 59,564 shares of the company's stock valued at $2,038,000 after acquiring an additional 344 shares in the last quarter. Allworth Financial LP increased its position in shares of Keurig Dr Pepper by 3.8% during the first quarter. Allworth Financial LP now owns 10,242 shares of the company's stock valued at $353,000 after acquiring an additional 371 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Keurig Dr Pepper by 3.5% during the second quarter. Raleigh Capital Management Inc. now owns 11,617 shares of the company's stock valued at $384,000 after acquiring an additional 395 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Trading Down 0.1%

Shares of Keurig Dr Pepper stock opened at $25.82 on Monday. The company has a market capitalization of $35.07 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.43 and a beta of 0.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The company has a fifty day moving average of $29.39 and a 200 day moving average of $32.22. Keurig Dr Pepper, Inc has a fifty-two week low of $25.03 and a fifty-two week high of $37.27.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. Keurig Dr Pepper's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.23 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.92 annualized dividend and a yield of 3.6%. Keurig Dr Pepper's payout ratio is presently 82.14%.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 7,601 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director owned 2,284,568 shares in the company, valued at $82,038,836.88. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the sale, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,601 shares of company stock worth $14,421,512. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KDP shares. BNP Paribas Exane downgraded shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a research report on Monday, September 22nd. Cowen reiterated a "hold" rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 1st. Barclays lowered shares of Keurig Dr Pepper from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $39.00 to $26.00 in a research note on Wednesday, September 24th. Bank of America decreased their target price on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.00.

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.

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