Allspring Global Investments Holdings LLC Sells 668,745 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Allspring Global Investments Holdings LLC lowered its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,709,462 shares of the company's stock after selling 668,745 shares during the quarter. Keurig Dr Pepper accounts for approximately 0.9% of Allspring Global Investments Holdings LLC's holdings, making the stock its 9th biggest holding. Allspring Global Investments Holdings LLC owned about 1.08% of Keurig Dr Pepper worth $514,390,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KDP shares. Argus started coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target on the stock. Morgan Stanley upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $40.00 in a research report on Wednesday, April 9th. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group increased their price target on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.92.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded up $0.51 during midday trading on Tuesday, reaching $33.57. 12,040,417 shares of the company traded hands, compared to its average volume of 12,589,366. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.47 and a quick ratio of 0.31. The stock has a 50-day moving average price of $33.49 and a 200 day moving average price of $33.08. Keurig Dr Pepper, Inc has a 52 week low of $30.12 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The business had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the firm posted $0.38 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, June 27th. Keurig Dr Pepper's payout ratio is currently 83.64%.

Insider Buying and Selling at Keurig Dr Pepper

In related news, Director De Ven Michael G. Van purchased 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $33.20 per share, with a total value of $498,000.00. Following the completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following the sale, the vice president owned 62,411 shares of the company's stock, valued at $2,136,952.64. This trade represents a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,500 shares of company stock valued at $23,177,040 in the last ninety days. 1.00% of the stock is owned by insiders.

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.