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

Key Points

• Allspring Global Investments cut its Keurig Dr Pepper stake by 2.6% in the first quarter, though it still held 13.17 million shares valued at about $338.5 million.
• Keurig Dr Pepper reported Q1 EPS of $0.39, beating analyst expectations of $0.37, while revenue rose 9.4% year over year to $3.98 billion.
• The company paid a quarterly dividend of $0.23 per share, equal to an annualized yield of 2.9%; analysts currently have a consensus rating of Hold with an average price target of $33.07.

Allspring Global Investments Holdings LLC decreased its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,174,821 shares of the company's stock after selling 358,410 shares during the quarter. Keurig Dr Pepper accounts for about 0.6% of Allspring Global Investments Holdings LLC's holdings, making the stock its 29th largest holding. Allspring Global Investments Holdings LLC owned 0.97% of Keurig Dr Pepper worth $338,461,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at $26,000. Activest Wealth Management lifted its holdings in Keurig Dr Pepper by 5,642.1% during the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after purchasing an additional 1,072 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at about $31,000. Rossby Financial LCC grew its position in shares of Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after purchasing an additional 339 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in Keurig Dr Pepper by 67.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock valued at $31,000 after buying an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $31.38 on Friday. The stock's fifty day moving average is $30.75 and its two-hundred day moving average is $28.82. The firm has a market capitalization of $42.69 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the company earned $0.42 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 68.15%.

Analysts Set New Price Targets

KDP has been the topic of several research reports. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 8th. Wells Fargo & Company set a $37.00 price target on Keurig Dr Pepper in a research report on Wednesday, July 1st. Evercore set a $30.00 price objective on Keurig Dr Pepper in a research note on Friday, April 24th. Citigroup lifted their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $33.07.

About Keurig Dr Pepper

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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