Keurig Dr Pepper, Inc (NASDAQ:KDP) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC cut its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 44.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,587 shares of the company's stock after selling 28,184 shares during the quarter. Keurig Dr Pepper accounts for about 1.0% of Kennon Green & Company LLC's portfolio, making the stock its 27th largest holding. Kennon Green & Company LLC's holdings in Keurig Dr Pepper were worth $1,184,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock worth $3,841,140,000 after acquiring an additional 22,856,757 shares during the period. Wellington Management Group LLP grew its stake in shares of Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock worth $1,946,561,000 after purchasing an additional 5,646,179 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock worth $1,755,564,000 after purchasing an additional 14,473,054 shares during the period. Geode Capital Management LLC increased its holdings in shares of Keurig Dr Pepper by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company's stock valued at $784,974,000 after purchasing an additional 1,962,195 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Keurig Dr Pepper by 19.6% in the 4th quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock valued at $693,972,000 after purchasing an additional 3,539,463 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $33.64, for a total transaction of $403,680.00. Following the transaction, the insider owned 106,511 shares in the company, valued at approximately $3,583,030.04. This trade represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Angela A. Stephens sold 14,500 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total value of $496,480.00. Following the transaction, the vice president directly owned 62,411 shares in the company, valued at $2,136,952.64. This trade represents a 18.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 686,500 shares of company stock valued at $23,177,040. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on KDP. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Argus assumed coverage on Keurig Dr Pepper in a research note on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price target for the company. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Piper Sandler raised Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. Finally, UBS Group upped their target price on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $39.92.

Keurig Dr Pepper Stock Up 0.6%

Shares of KDP opened at $33.06 on Tuesday. The stock has a 50 day moving average price of $33.49 and a 200 day moving average price of $33.08. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.47. The stock has a market capitalization of $44.90 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.53 and a beta of 0.49.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.57 billion. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, June 27th. Keurig Dr Pepper's dividend payout ratio is currently 83.64%.

About Keurig Dr Pepper

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.

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