Cornerstone Advisors LLC Reduces Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Cornerstone Advisors LLC significantly reduced its holdings in Keurig Dr Pepper, Inc by selling 32,500 shares, resulting in a 65.3% decrease and bringing the total shares owned to 17,300.
• Several large institutional investors have increased their stakes in Keurig Dr Pepper, with Vanguard Group Inc. growing its share by 21.3%, now holding 145 million shares worth approximately $4.96 billion.
• Keurig Dr Pepper announced a quarterly dividend of $0.23 per share, representing a 2.8% dividend yield and a payout ratio of 82.14% based on the company's last earnings report.

Cornerstone Advisors LLC lowered its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 65.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,300 shares of the company's stock after selling 32,500 shares during the period. Cornerstone Advisors LLC's holdings in Keurig Dr Pepper were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ST Germain D J Co. Inc. acquired a new stake in Keurig Dr Pepper during the 1st quarter valued at approximately $27,000. Continuum Advisory LLC grew its stake in Keurig Dr Pepper by 82.5% in the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock valued at $46,000 after acquiring an additional 602 shares during the period. Global Trust Asset Management LLC acquired a new position in Keurig Dr Pepper during the first quarter worth $48,000. LRI Investments LLC boosted its stake in Keurig Dr Pepper by 65.6% during the 4th quarter. LRI Investments LLC now owns 1,527 shares of the company's stock valued at $49,000 after purchasing an additional 605 shares during the last quarter. Finally, Riverview Trust Co raised its position in Keurig Dr Pepper by 47.7% in the 1st quarter. Riverview Trust Co now owns 1,710 shares of the company's stock valued at $59,000 after buying an additional 552 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KDP shares. Barclays lifted their target price on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group reduced their price objective 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, July 17th. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Argus initiated coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price objective for the company. Two investment 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. Based on data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and a consensus price target of $39.77.

Keurig Dr Pepper Trading Up 1.5%

KDP stock traded up $0.52 during trading on Friday, reaching $34.42. The company had a trading volume of 6,662,959 shares, compared to its average volume of 10,135,060. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. Keurig Dr Pepper, Inc has a 52 week low of $30.12 and a 52 week high of $38.28. The business has a 50 day moving average of $33.30 and a 200 day moving average of $33.39. The company has a market cap of $46.76 billion, a P/E ratio of 16.95, a PEG ratio of 2.47 and a beta of 0.45.

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, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The business's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

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

Insider Activity at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $32.92, for a total transaction of $395,040.00. Following the completion of the transaction, the insider owned 118,511 shares of the company's stock, valued at $3,901,382.12. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total value of $6,843,200.00. Following the completion of the sale, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock valued at $22,235,760 in the last three months. Company 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.