Cullen Capital Management LLC Trims Stock Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Cullen Capital Management trimmed its stake in Keurig Dr Pepper by 3.1% in the fourth quarter, selling 47,446 shares and ending with 1,478,726 shares valued at about $41.4 million.
• Despite the selloff, institutional ownership remains high, with hedge funds and other investors holding 93.99% of KDP shares. Several smaller firms also recently increased their positions.
• Wall Street is mixed but cautiously positive: analysts currently have an average “Hold” rating with a consensus price target of $32, while KDP recently beat quarterly EPS estimates and announced a $0.23 quarterly dividend.

Cullen Capital Management LLC decreased its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,478,726 shares of the company's stock after selling 47,446 shares during the period. Cullen Capital Management LLC owned 0.11% of Keurig Dr Pepper worth $41,419,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of KDP. Auxier Asset Management grew its stake in Keurig Dr Pepper by 0.4% during the second quarter. Auxier Asset Management now owns 72,163 shares of the company's stock valued at $2,386,000 after acquiring an additional 318 shares in the last quarter. Rossby Financial LCC grew its stake in Keurig Dr Pepper by 45.1% during the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after acquiring an additional 339 shares in the last quarter. Park Avenue Securities LLC grew its stake in Keurig Dr Pepper by 3.0% during the fourth quarter. Park Avenue Securities LLC now owns 13,691 shares of the company's stock valued at $383,000 after acquiring an additional 405 shares in the last quarter. BOKF NA grew its stake in Keurig Dr Pepper by 44.1% during the third quarter. BOKF NA now owns 1,388 shares of the company's stock valued at $35,000 after acquiring an additional 425 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in Keurig Dr Pepper by 67.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock valued at $31,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KDP shares. BNP Paribas Exane raised shares of Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price objective for the company in a research note on Wednesday, April 22nd. Zacks Research cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. UBS Group boosted their price objective on shares of Keurig Dr Pepper from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Sanford C. Bernstein started coverage on shares of Keurig Dr Pepper in a research note on Thursday. They set an "outperform" rating and a $38.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.00.

Keurig Dr Pepper Trading Up 1.5%

Shares of Keurig Dr Pepper stock opened at $31.71 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $35.94. The firm has a market cap of $43.14 billion, a PE ratio of 23.49, a PEG ratio of 1.43 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The company has a 50 day simple moving average of $28.52 and a two-hundred day simple moving average of $28.25.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same period in the previous year, the business posted $0.42 earnings per share. Keurig Dr Pepper's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 2.9%. Keurig Dr Pepper's payout ratio is presently 68.15%.

Keurig Dr Pepper Profile

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.

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