Keurig Dr Pepper, Inc $KDP Stock: Perpetual Ltd Trims Holdings

Key Points

• Perpetual Ltd. reduced its Keurig Dr Pepper stake by 6.5% in the third quarter, selling 116,491 shares and retaining 1.68 million shares valued at approximately $51 million. Institutional investors collectively own 93.99% of KDP.
• Keurig Dr Pepper reported quarterly EPS of $0.57, exceeding estimates by $0.03, while revenue reached $7.31 billion and increased 75.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $36 price target versus the stock’s reported $32.75 price; the company also pays a $0.23 quarterly dividend yielding 2.8%.

Perpetual Ltd trimmed its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680,646 shares of the company's stock after selling 116,491 shares during the period. Perpetual Ltd owned approximately 0.12% of Keurig Dr Pepper worth $50,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Keurig Dr Pepper in the second quarter worth approximately $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Keurig Dr Pepper in the second quarter valued at approximately $767,105,000. T. Rowe Price Investment Management Inc. acquired a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $727,667,000. Bank of America Corp DE bought a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $281,503,000. Finally, Legal & General Group Plc bought a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $269,336,000. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $32.75 on Tuesday. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $33.82. The stock has a market cap of $44.57 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.50 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The firm's 50-day simple moving average is $31.35 and its 200 day simple moving average is $30.14.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%. The company's quarterly revenue was up 75.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, research analysts anticipate that Keurig Dr Pepper, Inc will post 2.30 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, September 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.8%. Keurig Dr Pepper's payout ratio is presently 92.93%.

Insider Activity at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total value of $390,600.00. Following the completion of the sale, the insider directly owned 84,171 shares of the company's stock, valued at approximately $2,739,766.05. This represents a 12.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Angela A. Stephens sold 9,500 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total value of $310,650.00. Following the transaction, the vice president owned 55,786 shares in the company, valued at approximately $1,824,202.20. This trade represents a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KDP shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Keurig Dr Pepper in a research report on Friday, August 7th. Argus restated a "buy" rating and set a $36.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, September 15th. Citigroup boosted their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley started coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They set an "overweight" rating and a $38.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that produces, distributes and markets a broad portfolio of hot and cold beverages. Its products include coffee, soft drinks, flavored sparkling water, juices, teas, sports drinks and mixers, sold under brands such as Keurig, Dr Pepper, Green Mountain Coffee Roasters, Canada Dry, Snapple, 7UP, A&W, Bai and Core Hydration.

The company's coffee business includes single-serve brewing systems, coffee makers, pods and related beverages.

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