Keurig Dr Pepper, Inc $KDP Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management cut its Keurig Dr Pepper stake by 68.7% in the fourth quarter, selling 570,758 shares and leaving it with 260,307 shares valued at about $7.29 million.
• Analyst sentiment is mixed but still leans cautious: six analysts rate KDP a Buy, ten rate it Hold, and the consensus view is Hold with an average price target of $31.57.
• Keurig Dr Pepper reported quarterly EPS of $0.39, beating estimates, and announced a quarterly dividend of $0.23 per share, equal to a 3.1% annual yield.

King Luther Capital Management Corp reduced its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,307 shares of the company's stock after selling 570,758 shares during the quarter. King Luther Capital Management Corp's holdings in Keurig Dr Pepper were worth $7,291,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KDP. Root Financial Partners LLC acquired a new stake in Keurig Dr Pepper in the third quarter valued at $26,000. Salomon & Ludwin LLC acquired a new stake in Keurig Dr Pepper in the fourth quarter valued at $26,000. Clearstead Trust LLC raised its holdings in Keurig Dr Pepper by 98.3% in the third quarter. Clearstead Trust LLC now owns 1,081 shares of the company's stock valued at $28,000 after acquiring an additional 536 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Keurig Dr Pepper by 71.7% in the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company's stock valued at $30,000 after acquiring an additional 484 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Keurig Dr Pepper by 5,642.1% in the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after acquiring an additional 1,072 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

KDP has been the topic of several recent analyst reports. Evercore set a $30.00 price target on shares of Keurig Dr Pepper in a report on Friday, April 24th. Citigroup cut their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. UBS Group upped their price objective on Keurig Dr Pepper from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Zacks Research cut Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Wells Fargo & Company cut their price objective on Keurig Dr Pepper from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.57.

Keurig Dr Pepper Trading Up 1.9%

Shares of NASDAQ KDP opened at $30.10 on Thursday. The stock's 50 day moving average price is $27.52 and its two-hundred day moving average price is $27.94. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94. The stock has a market capitalization of $40.95 billion, a P/E ratio of 22.30, a PEG ratio of 1.35 and a beta of 0.41. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

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

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. Keurig Dr Pepper's dividend payout ratio is 68.15%.

About Keurig Dr Pepper

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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