World Equity Group Inc. Sells 11,097 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

World Equity Group Inc. cut its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 50.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,835 shares of the company's stock after selling 11,097 shares during the quarter. World Equity Group Inc.'s holdings in Keurig Dr Pepper were worth $405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama grew its position in shares of Keurig Dr Pepper by 0.5% during the first quarter. Retirement Systems of Alabama now owns 2,346,368 shares of the company's stock valued at $80,293,000 after purchasing an additional 12,805 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Keurig Dr Pepper by 2.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 138,765 shares of the company's stock valued at $4,749,000 after purchasing an additional 3,328 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Keurig Dr Pepper by 9.0% during the first quarter. State of Alaska Department of Revenue now owns 139,881 shares of the company's stock valued at $4,786,000 after purchasing an additional 11,525 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Keurig Dr Pepper during the first quarter valued at about $48,000. Finally, Western Pacific Wealth Management LP grew its position in shares of Keurig Dr Pepper by 56.3% during the first quarter. Western Pacific Wealth Management LP now owns 6,410 shares of the company's stock valued at $219,000 after purchasing an additional 2,310 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KDP has been the subject of several recent research reports. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Finally, Barclays raised their price objective on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average price target of $39.71.

Insider Activity

In related news, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $33.96, for a total value of $7,063,680.00. Following the completion of the transaction, the director now owns 3,054,490 shares of the company's stock, valued at approximately $103,730,480.40. This represents a 6.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Angela A. Stephens sold 14,500 shares of the 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 transaction, the vice president now directly owns 62,411 shares of the company's stock, valued at $2,136,952.64. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 686,500 shares of company stock valued at $23,190,720 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Keurig Dr Pepper Trading Up 1.1%

Shares of NASDAQ:KDP opened at $33.58 on Friday. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The business's fifty day simple moving average is $33.76 and its 200-day simple moving average is $33.10. The company has a market capitalization of $45.61 billion, a PE ratio of 30.53, a P/E/G ratio of 2.61 and a beta of 0.48. 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 (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 83.64%.

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.

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