Harvey Investment Co. LLC Sells 33,315 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Harvey Investment Co. LLC cut its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,584 shares of the company's stock after selling 33,315 shares during the quarter. Harvey Investment Co. LLC's holdings in Keurig Dr Pepper were worth $1,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock valued at $10,400,000 after purchasing an additional 112,819 shares during the last quarter. RWC Asset Management LLP raised its holdings in shares of Keurig Dr Pepper by 34.6% in the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock valued at $49,885,000 after purchasing an additional 398,916 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at about $400,000. Concurrent Investment Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 185.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 51,611 shares of the company's stock valued at $1,658,000 after purchasing an additional 33,554 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Keurig Dr Pepper in the first quarter valued at about $4,091,000. 93.99% of the stock is owned by institutional investors.

Insider Activity

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the completion of the transaction, the insider now directly owns 166,511 shares in the company, valued at $5,791,252.58. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $33.96, for a total value of $7,063,680.00. Following the completion of the transaction, the director now owns 3,054,490 shares of the company's stock, valued at $103,730,480.40. The trade was a 6.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 698,500 shares of company stock valued at $23,594,400 in the last quarter. 0.40% of the stock is currently owned by insiders.

Keurig Dr Pepper Trading Down 1.7%

Shares of NASDAQ KDP traded down $0.57 during mid-day trading on Wednesday, hitting $32.98. The stock had a trading volume of 9,680,359 shares, compared to its average volume of 10,866,101. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.47. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year high of $38.28. The business has a 50 day moving average price of $33.67 and a two-hundred day moving average price of $33.10. The firm has a market cap of $44.79 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, June 27th. Keurig Dr Pepper's payout ratio is currently 83.64%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Argus started coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 target price for the company. Morgan Stanley upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their target price for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.