KBC Group NV Sells 184,553 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• KBC Group NV reduced its stake in Keurig Dr Pepper by 36.1% in the first quarter, selling 184,553 shares and leaving it with 326,801 shares worth about $8.6 million.
• Institutional ownership remains very high, with hedge funds and other investors controlling 93.99% of Keurig Dr Pepper’s stock. Several large firms, including Vanguard, State Street, and Wellington, also adjusted their positions.
• Keurig Dr Pepper’s latest results were mixed: it beat EPS expectations with $0.39 per share, but revenue of $3.98 billion fell well short of analysts’ $7.23 billion estimate, even as sales rose 9.4% year over year.

KBC Group NV cut its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 36.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,801 shares of the company's stock after selling 184,553 shares during the quarter. KBC Group NV's holdings in Keurig Dr Pepper were worth $8,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KDP. Vanguard Group Inc. lifted its stake in shares of Keurig Dr Pepper by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock worth $4,508,456,000 after purchasing an additional 1,538,456 shares during the last quarter. State Street Corp raised its holdings in 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 purchasing an additional 986,700 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 purchasing an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Keurig Dr Pepper by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock valued at $887,021,000 after buying an additional 1,187,457 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at about $727,667,000. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $30.20 on Thursday. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $41.09 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The company's 50 day moving average is $30.87 and its 200 day moving average is $28.89.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is 68.15%.

Wall Street Analyst Weigh In

KDP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a research note on Wednesday, July 1st. Citigroup lifted their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Finally, Weiss Ratings upgraded Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $33.07.

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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