Cerity Partners LLC Has $3.55 Million Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Cerity Partners LLC reduced its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 24.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,698 shares of the company's stock after selling 34,332 shares during the quarter. Cerity Partners LLC's holdings in Keurig Dr Pepper were worth $3,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 worth $1,154,000 after buying an additional 11,435 shares during the last quarter. Praxis Investment Management Inc. grew its position in Keurig Dr Pepper by 112.2% during the first 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 acquired a new stake in Keurig Dr Pepper during the first quarter worth about $1,177,000. Envestnet Asset Management Inc. raised its holdings in shares of Keurig Dr Pepper by 13.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock worth $96,609,000 after purchasing an additional 339,530 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Keurig Dr Pepper in the 1st quarter worth about $4,091,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Down 1.0%

Shares of KDP traded down $0.35 during mid-day trading on Friday, reaching $33.54. The company's stock had a trading volume of 7,623,961 shares, compared to its average volume of 11,000,776. The company has a market cap of $45.55 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.47. The business has a fifty day moving average of $33.25 and a 200 day moving average of $33.19. The company has a quick ratio of 0.31, a current ratio of 0.47 and a debt-to-equity ratio of 0.49. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year high of $38.28.

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

Keurig Dr Pepper Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on KDP shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their price target for the company from $36.00 to $42.00 in a report on Friday, April 25th. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Argus began coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target for the company. Finally, UBS Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and a consensus target price of $39.62.

Insiders Place Their Bets

In related news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $33.10, for a total value of $6,884,800.00. Following the completion of the transaction, the director owned 2,638,490 shares of the company's stock, valued at $87,334,019. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total value of $496,480.00. Following the completion of the transaction, the vice president directly owned 62,411 shares of the company's stock, valued at approximately $2,136,952.64. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 698,500 shares of company stock worth $23,557,560. Corporate insiders own 0.40% of the company's stock.

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.