First American Bank Sells 15,806 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• First American Bank sold 15,806 shares of Keurig Dr Pepper, reducing its stake by 26.5%, leaving it with 43,758 shares valued at approximately $1.45 million.
• Multiple institutional investors increased their holdings in Keurig Dr Pepper, with notable increases from Amundi (7.7%) and Praxis Investment Management (112.2%) in the first quarter.
• Analysts have set a consensus rating of "Moderate Buy" for KDP, with an average target price of $36.23, amid recent downgrades by firms such as UBS and Barclays.

First American Bank trimmed its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,758 shares of the company's stock after selling 15,806 shares during the period. First American Bank's holdings in Keurig Dr Pepper were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Amundi lifted its stake in shares of Keurig Dr Pepper by 7.7% in the first quarter. Amundi now owns 4,404,145 shares of the company's stock valued at $156,920,000 after buying an additional 315,290 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Keurig Dr Pepper by 61.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 60,630 shares of the company's stock valued at $2,075,000 after buying an additional 23,167 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Keurig Dr Pepper by 51.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after buying an additional 11,435 shares in the last quarter. Praxis Investment Management Inc. lifted its stake in shares of Keurig Dr Pepper by 112.2% in the first quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after buying an additional 10,380 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Keurig Dr Pepper by 85.1% in the first quarter. Vident Advisory LLC now owns 26,641 shares of the company's stock valued at $912,000 after purchasing an additional 12,250 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KDP has been the subject of several analyst reports. UBS Group lowered their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 27th. BNP Paribas Exane downgraded shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a report on Monday, September 22nd. Piper Sandler lowered their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Finally, Barclays downgraded shares of Keurig Dr Pepper from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $39.00 to $26.00 in a report on Wednesday. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average target price of $36.23.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $25.50 on Friday. Keurig Dr Pepper, Inc has a 52-week low of $25.40 and a 52-week high of $37.82. The company has a 50-day simple moving average of $30.94 and a 200 day simple moving average of $32.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The company has a market capitalization of $34.64 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company posted $0.45 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.23 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 82.14%.

Insider Activity

In other news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the transaction, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of the transaction, the director owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 447,601 shares of company stock valued at $14,825,192 in the last quarter. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.