Empowered Funds LLC Lowers Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Empowered Funds LLC cut its Keurig Dr Pepper stake by 47% in the first quarter, selling 86,267 shares and retaining 97,473 shares valued at approximately $2.6 million.
• Institutional ownership remains high at 93.99%, with major investors including Vanguard, State Street, Wellington Management and Geode Capital increasing their positions.
• Keurig Dr Pepper pays a quarterly dividend of $0.23 per share, equal to an annualized $0.92 dividend and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $33.94.

Empowered Funds LLC lessened its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 47.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,473 shares of the company's stock after selling 86,267 shares during the period. Empowered Funds LLC's holdings in Keurig Dr Pepper were worth $2,566,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Keurig Dr Pepper by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock valued at $4,508,456,000 after purchasing an additional 1,538,456 shares during the last quarter. State Street Corp boosted its position in shares of Keurig Dr Pepper by 1.6% in the third quarter. State Street Corp now owns 64,594,706 shares of the company's stock worth $1,662,361,000 after acquiring an additional 986,700 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock worth $1,596,664,000 after acquiring an additional 15,393,753 shares during the last quarter. Geode Capital Management LLC grew its holdings in Keurig Dr Pepper by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock valued at $887,021,000 after purchasing an additional 1,187,457 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $727,667,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $31.10 on Wednesday. The firm's fifty day simple moving average is $31.17 and its 200 day simple moving average is $29.08. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The firm has a market capitalization of $42.31 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.41 and a beta of 0.40.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's payout ratio is currently 68.15%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KDP shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday. Evercore set a $30.00 price objective on Keurig Dr Pepper in a report on Friday, April 24th. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a report on Wednesday, July 8th. Citigroup boosted their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.94.

Keurig Dr Pepper Company 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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