Keurig Dr Pepper, Inc (NASDAQ:KDP) Stock Holdings Lowered by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,461,392 shares of the company's stock after selling 62,036 shares during the period. DAVENPORT & Co LLC owned approximately 0.18% of Keurig Dr Pepper worth $83,894,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. LaFleur & Godfrey LLC purchased a new position in Keurig Dr Pepper in the fourth quarter valued at about $806,000. IFP Advisors Inc boosted its stake in shares of Keurig Dr Pepper by 17.6% during the 4th quarter. IFP Advisors Inc now owns 2,887 shares of the company's stock valued at $96,000 after buying an additional 433 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Keurig Dr Pepper during the 4th quarter valued at approximately $400,000. Proficio Capital Partners LLC acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter worth approximately $3,820,000. Finally, Mutual of America Capital Management LLC increased its stake in shares of Keurig Dr Pepper by 3.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 134,946 shares of the company's stock worth $4,334,000 after buying an additional 4,568 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Stock Performance

NASDAQ KDP traded up $0.27 during trading hours on Wednesday, hitting $33.84. The company had a trading volume of 8,501,906 shares, compared to its average volume of 10,900,535. The company has a quick ratio of 0.31, a current ratio of 0.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $45.96 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47. Keurig Dr Pepper, Inc has a fifty-two week low of $30.12 and a fifty-two week high of $38.28. The business has a fifty day simple moving average of $33.45 and a 200-day simple moving average of $33.09.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.72%. Keurig Dr Pepper's dividend payout ratio (DPR) is 83.64%.

Insider Activity at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the sale, the director owned 2,638,490 shares of the company's stock, valued at $87,334,019. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following 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. In the last 90 days, insiders sold 698,500 shares of company stock valued at $23,580,720. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KDP has been the subject of several research analyst reports. UBS Group boosted their target price on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, Barclays lowered their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper has an average rating of "Moderate Buy" and a consensus target price of $39.92.

About Keurig Dr Pepper

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.