Coho Partners Ltd. Sells 451,943 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Coho Partners Ltd. cut its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,686,593 shares of the company's stock after selling 451,943 shares during the period. Keurig Dr Pepper accounts for approximately 3.5% of Coho Partners Ltd.'s portfolio, making the stock its 14th largest holding. Coho Partners Ltd. owned approximately 0.12% of Keurig Dr Pepper worth $57,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. ST Germain D J Co. Inc. bought a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at about $27,000. New Age Alpha Advisors LLC increased its holdings in shares of Keurig Dr Pepper by 82.8% in the 4th 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. Whipplewood Advisors LLC purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at $37,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Keurig Dr Pepper during the 4th quarter worth $42,000. Finally, Global Trust Asset Management LLC purchased a new position in Keurig Dr Pepper in the first quarter worth $48,000. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $33.58 on Friday. The company's fifty day simple moving average is $33.76 and its two-hundred day simple moving average is $33.10. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The firm has a market cap of $45.61 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48. 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 (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, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the firm earned $0.38 earnings per share. Keurig Dr Pepper's quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

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

Insider Activity at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total transaction of $395,040.00. Following the transaction, the insider now owns 118,511 shares in the company, valued at $3,901,382.12. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director De Ven Michael G. Van acquired 15,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was 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 now directly owns 15,000 shares of the company's stock, valued at $498,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 686,500 shares of company stock worth $23,190,720 over the last quarter. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KDP shares. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. JPMorgan Chase & Co. boosted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Barclays lifted their price target on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and increased their target price for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. Three 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.71.

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.

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