Assetmark Inc. Decreases Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Assetmark Inc. has reduced its stake in Keurig Dr Pepper, Inc by 29.8%, selling 11,424 shares and now holding 26,956 shares valued at approximately $922,000.
• Several hedge funds have increased their positions in Keurig Dr Pepper, with Price T Rowe Associates boosting its stake by 36% and owning over 54 million shares.
• Analyst ratings for Keurig Dr Pepper are generally positive, with most recommending a "buy" and a consensus price target set at $39.77.

Assetmark Inc. lessened its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 29.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,956 shares of the company's stock after selling 11,424 shares during the quarter. Assetmark Inc.'s holdings in Keurig Dr Pepper were worth $922,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Keurig Dr Pepper by 51.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after acquiring an additional 11,435 shares during the period. Praxis Investment Management Inc. boosted its holdings in Keurig Dr Pepper by 112.2% during the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after acquiring an additional 10,380 shares during the period. Aspire Private Capital LLC purchased a new position in Keurig Dr Pepper during the 1st quarter valued at $1,177,000. Envestnet Asset Management Inc. boosted its holdings in Keurig Dr Pepper by 13.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock valued at $96,609,000 after acquiring an additional 339,530 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Keurig Dr Pepper by 656.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock valued at $7,034,000 after purchasing an additional 178,368 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

KDP has been the subject of several recent research reports. HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. UBS Group lowered their target price on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. Finally, Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Two investment 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's stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and an average target price of $39.77.

Insiders Place Their Bets

In other news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company's stock, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director De Ven Michael G. Van acquired 15,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the purchase, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 478,500 shares of company stock worth $15,889,040 in the last three months. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP traded up $0.23 during midday trading on Tuesday, hitting $33.51. The company had a trading volume of 3,544,070 shares, compared to its average volume of 12,210,512. Keurig Dr Pepper, Inc has a twelve month low of $30.12 and a twelve month high of $38.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The stock has a market cap of $45.52 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45. The business's 50-day simple moving average is $33.27 and its 200-day simple moving average is $33.38.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.7%. Keurig Dr Pepper's dividend payout ratio (DPR) is 82.14%.

Keurig Dr Pepper Company 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.