Bank of New York Mellon Corp Has $189.08 Million Stock Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Bank of New York Mellon cut its Keurig Dr Pepper stake by 3.8% in Q1 but still held 7.18 million shares valued at about $189.1 million at quarter end.
• Keurig Dr Pepper shares were down 1.5% to $30.91, and the stock trades near its 50-day average with a market cap of about $42.05 billion.
• The company beat quarterly EPS estimates with $0.39 per share and recently paid a $0.23 quarterly dividend, implying a 3.0% annual yield; analysts currently rate the stock Hold on average with a $33.07 target price.

Bank of New York Mellon Corp trimmed its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,181,321 shares of the company's stock after selling 285,603 shares during the period. Bank of New York Mellon Corp owned 0.53% of Keurig Dr Pepper worth $189,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KDP. Salomon & Ludwin LLC acquired a new stake in Keurig Dr Pepper in the fourth quarter worth $26,000. Activest Wealth Management lifted its holdings in shares of Keurig Dr Pepper by 5,642.1% in 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. bought a new stake in Keurig Dr Pepper in the 4th quarter valued at approximately $31,000. Rossby Financial LCC lifted 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 worth $31,000 after purchasing an additional 339 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Keurig Dr Pepper by 67.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock worth $31,000 after buying an additional 451 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Trading Down 1.5%

Shares of KDP stock opened at $30.91 on Friday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $35.94. The company has a market capitalization of $42.05 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.41 and a beta of 0.40. The firm has a 50 day moving average price of $30.79 and a two-hundred day moving average price of $28.83. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, analysts predict 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. Shareholders of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio is currently 68.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. JPMorgan Chase & Co. upped their target price on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Weiss Ratings raised Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Finally, BNP Paribas Exane upgraded Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price objective on the stock in a research note on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.