Westpac Banking Corp reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.0% during the 1st quarter, HoldingsChannel reports. The firm owned 318,530 shares of the company’s stock after selling 16,700 shares during the quarter. Westpac Banking Corp’s holdings in Keurig Dr Pepper were worth $10,948,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in KDP. Amundi Pioneer Asset Management Inc. grew its stake in shares of Keurig Dr Pepper by 124.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 56,049 shares of the company’s stock valued at $1,567,000 after purchasing an additional 31,025 shares during the period. Comerica Bank grew its holdings in shares of Keurig Dr Pepper by 13.4% in the 4th quarter. Comerica Bank now owns 19,737 shares of the company’s stock worth $621,000 after purchasing an additional 2,329 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Keurig Dr Pepper by 32.0% in the 4th quarter. State of Wisconsin Investment Board now owns 267,025 shares of the company’s stock worth $8,545,000 after purchasing an additional 64,780 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Keurig Dr Pepper by 9.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,184 shares of the company’s stock worth $550,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Keurig Dr Pepper by 41.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,851,645 shares of the company’s stock worth $59,253,000 after purchasing an additional 542,984 shares during the last quarter. Institutional investors own 44.81% of the company’s stock.
A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, April 21st. Credit Suisse Group increased their price target on Keurig Dr Pepper from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, April 30th. Morgan Stanley increased their price objective on shares of Keurig Dr Pepper from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, April 30th. JPMorgan Chase & Co. raised shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 19th. Finally, Evercore ISI reissued a “hold” rating on shares of Keurig Dr Pepper in a report on Monday, May 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $35.75.
In other news, insider Herbert Derek Hopkins sold 111,537 shares of Keurig Dr Pepper stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $36.02, for a total transaction of $4,017,562.74. Following the transaction, the insider now directly owns 691,117 shares of the company’s stock, valued at $24,894,034.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Justin Whitmore purchased 3,289 shares of Keurig Dr Pepper stock in a transaction dated Monday, May 3rd. The shares were purchased at an average cost of $36.18 per share, for a total transaction of $118,996.02. Following the completion of the transaction, the insider now owns 72,284 shares of the company’s stock, valued at $2,615,235.12. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Shares of NASDAQ KDP opened at $34.49 on Friday. The company has a market cap of $48.89 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 2.52 and a beta of 0.69. The company has a quick ratio of 0.25, a current ratio of 0.37 and a debt-to-equity ratio of 0.49. Keurig Dr Pepper Inc. has a 1 year low of $26.67 and a 1 year high of $37.11. The company has a 50-day simple moving average of $35.93.
Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, April 29th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.71 billion. Keurig Dr Pepper had a net margin of 12.55% and a return on equity of 8.74%. As a group, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Thursday, July 1st will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, June 30th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.15. Keurig Dr Pepper’s dividend payout ratio is currently 42.86%.
Keurig Dr Pepper Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment offers Keurig single serve brewers and specialty coffee to home, offices, restaurants, cafeterias, convenience stores, and hotels, as well as produces and sells range of other specialty beverages in K-Cup pods, such as hot and iced teas, hot cocoa, and other beverages.
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