Sumitomo Mitsui Trust Group Inc. Sells 159,090 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Sumitomo Mitsui Trust Group trimmed its Keurig Dr Pepper stake by 4.4% in the first quarter, selling 159,090 shares and ending with 3.48 million shares worth about $91.5 million.
• KDP shares rose 3.1% to $31.67, with the stock trading between its 50-day average of $30.60 and 200-day average of $28.74.
• Analysts currently have a Hold consensus on Keurig Dr Pepper, with an average price target of $32.47, while the company also paid a quarterly dividend of $0.23 per share, yielding about 2.9% annually.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,476,429 shares of the company's stock after selling 159,090 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Keurig Dr Pepper worth $91,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. increased its stake in shares of Keurig Dr Pepper by 290.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company's stock valued at $1,475,000 after purchasing an additional 39,156 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Keurig Dr Pepper during the 3rd quarter worth $2,551,000. Ossiam lifted its position in shares of Keurig Dr Pepper by 508.0% during the 3rd quarter. Ossiam now owns 726,288 shares of the company's stock worth $18,528,000 after buying an additional 606,826 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Keurig Dr Pepper by 194.6% during the 4th quarter. Merit Financial Group LLC now owns 87,054 shares of the company's stock worth $2,438,000 after buying an additional 57,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company's stock valued at $5,030,000 after buying an additional 57,797 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of recent analyst reports. Evercore set a $30.00 target price on Keurig Dr Pepper in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a report on Wednesday. Weiss Ratings upgraded shares of Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Hold" and an average target price of $32.47.

Keurig Dr Pepper Trading Up 3.1%

Shares of NASDAQ:KDP traded up $0.95 during midday trading on Friday, hitting $31.67. 7,968,621 shares of the stock were exchanged, compared to its average volume of 16,582,094. The business's 50-day moving average price is $30.60 and its 200 day moving average price is $28.74. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.40 and a beta of 0.40. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the company earned $0.42 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Analysts predict that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio is presently 68.15%.

Keurig Dr Pepper Profile

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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