Westpac Banking Corp Reduces Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Westpac Banking Corp lessened its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 53.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,251 shares of the company’s stock after selling 18,676 shares during the quarter. Westpac Banking Corp’s holdings in Keurig Dr Pepper were worth $541,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in Keurig Dr Pepper by 12.9% during the 3rd quarter. FMR LLC now owns 60,682,003 shares of the company’s stock valued at $1,915,731,000 after purchasing an additional 6,926,582 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 7.2% during the third quarter. Vanguard Group Inc. now owns 82,196,547 shares of the company’s stock worth $2,594,945,000 after buying an additional 5,490,242 shares in the last quarter. Barclays PLC grew its position in shares of Keurig Dr Pepper by 65.8% during the third quarter. Barclays PLC now owns 4,347,111 shares of the company’s stock worth $137,240,000 after buying an additional 1,725,535 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Keurig Dr Pepper by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,213,050 shares of the company’s stock worth $506,899,000 after buying an additional 1,518,286 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Keurig Dr Pepper by 13.4% in the third quarter. Northern Trust Corp now owns 12,173,081 shares of the company’s stock valued at $384,304,000 after acquiring an additional 1,441,007 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Trading Up 0.6 %

KDP stock traded up $0.20 during mid-day trading on Thursday, reaching $34.01. 754,233 shares of the stock traded hands, compared to its average volume of 9,916,361. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $34.65. The stock’s fifty day moving average is $31.40 and its 200-day moving average is $31.54. The company has a market cap of $46.10 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.59 and a beta of 0.61. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the business posted $0.34 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.91 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 2.53%. Keurig Dr Pepper’s payout ratio is 55.48%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 25,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $33.61, for a total transaction of $840,250.00. Following the transaction, the vice president now owns 76,081 shares of the company’s stock, valued at approximately $2,557,082.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Angela A. Stephens sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $33.61, for a total transaction of $840,250.00. Following the transaction, the vice president now directly owns 76,081 shares in the company, valued at approximately $2,557,082.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert James Gamgort acquired 171,821 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average price of $29.10 per share, with a total value of $4,999,991.10. Following the completion of the acquisition, the chief executive officer now owns 3,179,917 shares of the company’s stock, valued at approximately $92,535,584.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 100,085,652 shares of company stock valued at $2,892,832,080. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on KDP shares. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Morgan Stanley cut their target price on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Royal Bank of Canada lowered their target price on Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Wedbush dropped their price target on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, TD Cowen boosted their price objective on Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus price target of $36.64.

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.