Envestnet Portfolio Solutions Inc. Reduces Stock Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Envestnet Portfolio Solutions Inc. has significantly reduced its stake in Keurig Dr Pepper, cutting it by 68.7% in the second quarter, leaving it with 43,410 shares valued at approximately $1.4 million.
• Several institutional investors, including Rise Advisors LLC and Chung Wu Investment Group LLC, have recently initiated positions in Keurig Dr Pepper, indicating continued interest despite Envestnet's reduction.
• Analysts have lowered their price targets for Keurig Dr Pepper shares, with a consensus average target price of $35.00, reflecting a cautious outlook for the stock.

Envestnet Portfolio Solutions Inc. cut its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 68.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,410 shares of the company's stock after selling 95,355 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Keurig Dr Pepper were worth $1,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Keurig Dr Pepper in the 1st quarter worth about $25,000. Chung Wu Investment Group LLC bought a new position in shares of Keurig Dr Pepper in the second quarter valued at approximately $26,000. WPG Advisers LLC purchased a new position in Keurig Dr Pepper during the first quarter valued at approximately $43,000. Continuum Advisory LLC increased its holdings in Keurig Dr Pepper by 82.5% during the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock worth $46,000 after acquiring an additional 602 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Keurig Dr Pepper during the 1st quarter worth approximately $68,000. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KDP shares. TD Cowen reduced their price target on shares of Keurig Dr Pepper from $36.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, October 1st. Bank of America reduced their target price on Keurig Dr Pepper from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. Piper Sandler decreased their target price on Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Keurig Dr Pepper currently has an average rating of "Hold" and an average target price of $35.00.

Insider Buying and Selling

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.90, for a total transaction 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 represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 423,601 shares of company stock valued at $14,017,592. 0.40% of the stock is owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $28.03 on Friday. The firm has a market capitalization of $38.08 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.43. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a 12 month low of $25.03 and a 12 month high of $37.27. The business's 50-day moving average price is $28.74 and its 200-day moving average price is $32.00.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued 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. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.Keurig Dr Pepper's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Sell-side analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, September 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 82.14%.

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.

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