TD Asset Management Inc Sells 59,957 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• TD Asset Management Inc reduced its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 3.2%, now owning approximately 1,800,340 shares valued at $61.6 million.
• The company declared a quarterly dividend of $0.23 per share, representing an annualized yield of 2.77% and a dividend payout ratio of 82.14%.
• Keurig Dr Pepper reported $4.16 billion in revenue for the latest quarter, which was a 6.1% increase year-over-year, and earnings per share of $0.49, meeting analyst expectations.

TD Asset Management Inc lessened its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,800,340 shares of the company's stock after selling 59,957 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of Keurig Dr Pepper worth $61,608,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KDP. UniSuper Management Pty Ltd lifted its holdings in Keurig Dr Pepper by 28.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 100,928 shares of the company's stock worth $3,242,000 after purchasing an additional 22,558 shares during the period. Blair William & Co. IL raised its holdings in Keurig Dr Pepper by 46.1% during the 4th quarter. Blair William & Co. IL now owns 11,729 shares of the company's stock worth $377,000 after buying an additional 3,700 shares during the period. Norges Bank purchased a new position in Keurig Dr Pepper during the 4th quarter valued at about $197,819,000. New Age Alpha Advisors LLC grew its stake in Keurig Dr Pepper by 82.8% during the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company's stock valued at $28,000 after acquiring an additional 389 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Keurig Dr Pepper by 3.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 391,296 shares of the company's stock valued at $12,568,000 after acquiring an additional 14,377 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KDP. JPMorgan Chase & Co. lowered their target price on 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. Argus assumed coverage on 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. UBS Group cut their price target on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Barclays upped their price target on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.77.

Insiders Place Their Bets

In other news, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total transaction of $496,480.00. Following the sale, the vice president owned 62,411 shares in the company, valued at approximately $2,136,952.64. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $33.10, for a total value of $6,884,800.00. Following the sale, the director owned 2,638,490 shares in the company, valued at $87,334,019. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 282,500 shares of company stock worth $9,396,920 over the last ninety days. Company insiders own 0.40% of the company's stock.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock traded down $0.58 during mid-day trading on Thursday, hitting $33.25. 4,212,011 shares of the company were exchanged, compared to its average volume of 12,242,072. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $33.26 and a 200 day moving average of $33.31. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year high of $38.28. The company has a market capitalization of $45.16 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 2.47 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's payout ratio is presently 82.14%.

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.