Voya Investment Management LLC Sells 19,552 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Voya Investment Management LLC has reduced its stake in Keurig Dr Pepper, Inc by 5.1%, selling 19,552 shares, leaving them with 366,260 shares valued at approximately $12.53 million.
• Keurig Dr Pepper's recent earnings report met expectations with an EPS of $0.49 and revenue of $4.16 billion, marking a 6.1% increase from the same quarter last year.
• The company has announced a quarterly dividend of $0.23 per share, with a yield of 3.4%, and a payout ratio of 82.14% as per the latest financials.

Voya Investment Management LLC cut its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 366,260 shares of the company's stock after selling 19,552 shares during the period. Voya Investment Management LLC's holdings in Keurig Dr Pepper were worth $12,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Amundi lifted its stake in Keurig Dr Pepper by 7.7% in the 1st quarter. Amundi now owns 4,404,145 shares of the company's stock valued at $156,920,000 after purchasing an additional 315,290 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Keurig Dr Pepper by 61.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 60,630 shares of the company's stock valued at $2,075,000 after acquiring an additional 23,167 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings 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. Praxis Investment Management Inc. raised its holdings in Keurig Dr Pepper by 112.2% in the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after acquiring an additional 10,380 shares during the period. Finally, Vident Advisory LLC raised its holdings in Keurig Dr Pepper by 85.1% in the 1st quarter. Vident Advisory LLC now owns 26,641 shares of the company's stock valued at $912,000 after acquiring an additional 12,250 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock traded down $0.04 during mid-day trading on Friday, reaching $27.17. The company had a trading volume of 15,271,793 shares, compared to its average volume of 13,476,439. Keurig Dr Pepper, Inc has a fifty-two week low of $26.58 and a fifty-two week high of $38.28. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The company has a market cap of $36.90 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.50 and a beta of 0.47. The business has a fifty day simple moving average of $31.81 and a 200 day simple moving average of $33.08.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. Keurig Dr Pepper's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, September 26th. Keurig Dr Pepper's payout ratio is 82.14%.

Insiders Place Their Bets

In related news, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares in the company, valued at $75,412,360.10. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the transaction, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 447,601 shares of company stock worth $14,825,192. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KDP. JPMorgan Chase & Co. lowered 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 report on Thursday, July 17th. Citigroup lowered their price target on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. Piper Sandler decreased their price objective on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group set a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Monday, August 25th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.77.

About Keurig Dr Pepper

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.