Keurig Dr Pepper, Inc $KDP Holdings Lifted by Truist Financial Corp

Key Points

• Truist Financial Corp increased its holdings in Keurig Dr Pepper by 15.2%, owning 302,093 shares valued at nearly $10 million as of the latest SEC filing.
• Keurig Dr Pepper reported $4.16 billion in quarterly revenue, surpassing analysts' expectations and marking a 6.1% growth compared to the previous year.
• The company declared a quarterly dividend of $0.23 per share, with an annualized rate of $0.92 and a yield of 3.6%, reflecting a payout ratio of 82.14%.

Truist Financial Corp increased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,093 shares of the company's stock after buying an additional 39,916 shares during the quarter. Truist Financial Corp's holdings in Keurig Dr Pepper were worth $9,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Keurig Dr Pepper during the first quarter valued at $25,000. WPG Advisers LLC purchased a new position in Keurig Dr Pepper in the first quarter valued at about $43,000. Continuum Advisory LLC grew its stake in Keurig Dr Pepper by 82.5% in the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock valued at $46,000 after purchasing an additional 602 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in Keurig Dr Pepper in the first quarter valued at about $48,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Keurig Dr Pepper in the first quarter valued at about $68,000. Hedge funds and other institutional investors own 93.99% of the company's stock.

Insider Activity

In related news, Director Robert James Gamgort sold 208,000 shares of the business's 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 approximately $75,412,360.10. The trade was a 8.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the transaction, the insider directly owned 82,511 shares of the company's stock, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,601 shares of company stock valued at $14,421,512 in the last three months. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $25.84 on Monday. Keurig Dr Pepper, Inc has a fifty-two week low of $25.27 and a fifty-two week high of $37.27. The business has a 50-day moving average of $30.16 and a two-hundred day moving average of $32.51. The stock has a market capitalization of $35.10 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 26th. Keurig Dr Pepper's payout ratio is currently 82.14%.

Analysts Set New Price Targets

KDP has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a research note on Saturday, September 27th. Piper Sandler lowered 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. Wells Fargo & Company lowered their target price on Keurig Dr Pepper from $40.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group lowered their target price on Keurig Dr Pepper from $34.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Hold" and an average price target of $35.14.

Keurig Dr Pepper Company 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.