M&T Bank Corp Has $1.85 Million Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

M&T Bank Corp cut its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,077 shares of the company's stock after selling 21,543 shares during the period. M&T Bank Corp's holdings in Keurig Dr Pepper were worth $1,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC raised its holdings in shares of Keurig Dr Pepper by 4.6% during the first quarter. Liberty One Investment Management LLC now owns 754,144 shares of the company's stock valued at $25,807,000 after buying an additional 33,254 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Keurig Dr Pepper by 51.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after acquiring an additional 11,435 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Keurig Dr Pepper during the 1st quarter valued at $946,000. Raleigh Capital Management Inc. boosted its position in Keurig Dr Pepper by 4,779.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 11,222 shares of the company's stock worth $384,000 after acquiring an additional 10,992 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Keurig Dr Pepper by 13.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock worth $96,609,000 after acquiring an additional 339,530 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KDP has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and raised their target price for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Barclays reduced their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, June 27th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their target price for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Keurig Dr Pepper currently has an average rating of "Moderate Buy" and an average target price of $39.92.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP traded up $0.47 during mid-day trading on Wednesday, reaching $33.21. The company had a trading volume of 8,831,003 shares, compared to its average volume of 10,978,023. The company has a 50-day moving average price of $33.28 and a two-hundred day moving average price of $33.16. The stock has a market cap of $45.11 billion, a PE ratio of 30.19, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The company 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 business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.77%. Keurig Dr Pepper's payout ratio is currently 83.64%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the transaction, the director directly owned 2,638,490 shares of the company's stock, valued at $87,334,019. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Angela A. Stephens sold 14,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following the completion of the transaction, the vice president directly owned 62,411 shares in the company, valued at $2,136,952.64. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 698,500 shares of company stock worth $23,580,720. 1.00% of the stock is currently owned by corporate insiders.

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.