Howard Capital Management Inc. Sells 73,640 Shares of Keurig Dr Pepper, Inc $KDP

Howard Capital Management Inc. cut its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 69.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,102 shares of the company’s stock after selling 73,640 shares during the quarter. Howard Capital Management Inc.’s holdings in Keurig Dr Pepper were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Keurig Dr Pepper in the 2nd quarter valued at approximately $568,525,000. Vanguard Group Inc. lifted its position in shares of Keurig Dr Pepper by 9.8% during the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after acquiring an additional 14,244,768 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Keurig Dr Pepper by 43.2% in the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after acquiring an additional 9,494,503 shares during the period. State Street Corp grew its position in shares of Keurig Dr Pepper by 11.2% in the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after purchasing an additional 6,412,494 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on KDP shares. JPMorgan Chase & Co. cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Wednesday. Bank of America reduced their price target on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, Barclays increased their price objective on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.87.

Keurig Dr Pepper Stock Up 2.3%

KDP opened at $27.44 on Friday. The business’s fifty day simple moving average is $27.98 and its 200 day simple moving average is $28.80. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. The stock has a market cap of $37.28 billion, a PE ratio of 23.66, a P/E/G ratio of 1.85 and a beta of 0.34.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.23 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.4%. Keurig Dr Pepper’s payout ratio is presently 79.31%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the vice president directly owned 54,200 shares of the company’s stock, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.