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Mizuho Securities USA LLC Cuts Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Keurig Dr Pepper logo with Consumer Staples background

Key Points

  • Mizuho Securities USA LLC reduced its stock position in Keurig Dr Pepper by 10.4%, now holding 95,599 shares valued at $3.27 million.
  • During the first quarter, several hedge funds increased their stakes in Keurig Dr Pepper significantly, with Vanguard Group Inc. raising its investment by 21.3% and JPMorgan Chase & Co. increasing theirs by 108.1%.
  • Keurig Dr Pepper recently reported $4.16 billion in quarterly revenue, with a net margin of 9.75% and earnings per share meeting analyst expectations at $0.49.
  • Need better tools to track Keurig Dr Pepper? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Mizuho Securities USA LLC lessened its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,599 shares of the company's stock after selling 11,107 shares during the period. Mizuho Securities USA LLC's holdings in Keurig Dr Pepper were worth $3,271,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock worth $4,962,338,000 after buying an additional 25,425,644 shares during the period. JPMorgan Chase & Co. increased its stake in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock worth $1,330,565,000 after buying an additional 20,196,835 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 14,473,054 shares during the period. Northern Trust Corp increased its stake in Keurig Dr Pepper by 20.6% during the 4th quarter. Northern Trust Corp now owns 13,598,633 shares of the company's stock worth $436,788,000 after buying an additional 2,320,614 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Keurig Dr Pepper by 18.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,926,645 shares of the company's stock worth $318,836,000 after buying an additional 1,548,622 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Trading Up 1.5%

NASDAQ KDP opened at $34.42 on Monday. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28. The company has a 50-day simple moving average of $33.31 and a 200-day simple moving average of $33.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The firm has a market capitalization of $46.76 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.51 and a beta of 0.45.

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

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. Keurig Dr Pepper's payout ratio is 82.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KDP shares. Argus started coverage on shares of Keurig Dr Pepper in a research note on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target on the stock. UBS Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Hsbc Global Res raised shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Barclays lifted their price target on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.77.

Get Our Latest Research Report on KDP

Insider Activity

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total transaction of $395,040.00. Following the completion of the transaction, the insider directly owned 118,511 shares of the company's stock, valued at $3,901,382.12. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 672,000 shares of company stock valued at $22,235,760. Company insiders own 0.40% of the company's stock.

About Keurig Dr Pepper

(Free Report)

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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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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.

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