Tocqueville Asset Management L.P. Lowers Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Keurig Dr Pepper, Inc. by 52.9% in Q1, lowering its holdings to 144,896 shares worth approximately $4.96 million.
• Analysts have given Keurig Dr Pepper a consensus rating of "Moderate Buy" with a price target of $39.77, reflecting increased optimism among several research firms.
• Keurig Dr Pepper declared a quarterly dividend of $0.23 per share, representing a yield of 2.6%, with a payout ratio of 82.14% as of the last dividend payment on July 11th.

Tocqueville Asset Management L.P. reduced its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 52.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,896 shares of the company's stock after selling 162,468 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Keurig Dr Pepper were worth $4,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KDP. Vanguard Group Inc. lifted its position in Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock valued at $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Keurig Dr Pepper by 36.0% in the fourth 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 raised its holdings 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 valued at $436,788,000 after buying an additional 2,320,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings 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 valued at $318,836,000 after buying an additional 1,548,622 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KDP shares. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price objective for the company from $36.00 to $42.00 in a research report on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, April 22nd. Barclays lifted their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group dropped their price target on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of "Moderate Buy" and a consensus price target of $39.77.

Keurig Dr Pepper Price Performance

KDP remained flat at $35.18 during midday trading on Wednesday. 9,400,748 shares of the company's stock traded hands, compared to its average volume of 11,903,183. The firm has a 50 day moving average of $33.58 and a 200-day moving average of $33.58. 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 firm has a market cap of $47.79 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.53 and a beta of 0.45. 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. 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 previous year, the business posted $0.45 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director De Ven Michael G. Van acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average price of $33.20 per share, with a total value of $498,000.00. Following the completion of the acquisition, the director owned 15,000 shares in the company, valued at $498,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider owned 82,511 shares of the company's stock, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 672,000 shares of company stock worth $22,235,760. Insiders own 1.00% of the company's stock.

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.