Applied Finance Capital Management LLC Sells 335,532 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Applied Finance Capital Management LLC reduced its holdings in Keurig Dr Pepper by 39.4%, selling 335,532 shares, and now owns a total of 516,994 shares valued at approximately $17.7 million.
• Keurig Dr Pepper reported a 6.1% revenue increase year-over-year with a quarterly revenue of $4.16 billion and met earnings expectations with an EPS of $0.49.
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized dividend of $0.92 and a yield of 2.77%, with a payout ratio of 83.64%.

Applied Finance Capital Management LLC cut its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 39.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 516,994 shares of the company's stock after selling 335,532 shares during the period. Applied Finance Capital Management LLC's holdings in Keurig Dr Pepper were worth $17,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KDP. ST Germain D J Co. Inc. acquired a new stake in shares of Keurig Dr Pepper in the first quarter valued at approximately $27,000. New Age Alpha Advisors LLC increased its holdings in Keurig Dr Pepper by 82.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company's stock worth $28,000 after buying an additional 389 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Keurig Dr Pepper during the fourth quarter worth $42,000. Continuum Advisory LLC increased its holdings in Keurig Dr Pepper by 82.5% during the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock worth $46,000 after buying an additional 602 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in Keurig Dr Pepper during the first quarter worth $48,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Keurig Dr Pepper

In related news, 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 completion of the sale, the insider owned 82,511 shares of the company's stock, valued at $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the sale, the director directly owned 2,638,490 shares of the company's stock, valued at $87,334,019. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 490,500 shares of company stock worth $16,493,880. Insiders own 1.00% of the company's stock.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock traded up $0.33 during trading on Wednesday, reaching $34.18. The company's stock had a trading volume of 3,385,163 shares, compared to its average volume of 12,242,879. The business's 50-day moving average price is $33.25 and its 200-day moving average price is $33.30. The firm has a market cap of $46.42 billion, a PE ratio of 30.50, a P/E/G ratio of 2.40 and a beta of 0.47. Keurig Dr Pepper, Inc has a 52 week low of $30.12 and a 52 week high of $38.28. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.49. The company had revenue of $4.16 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. Keurig Dr Pepper's payout ratio is presently 82.14%.

Analyst Ratings Changes

KDP has been the topic of a number of recent analyst reports. 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. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their target price for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Barclays restated an "overweight" rating and set a $39.00 target price (up from $37.00) on shares of Keurig Dr Pepper in a report on Monday. UBS Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Argus initiated coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They set a "buy" rating and a $40.00 target price on the stock. Two 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $39.77.

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.