Kornitzer Capital Management Inc. KS Cuts Stake in Keurig Dr Pepper, Inc $KDP

Kornitzer Capital Management Inc. KS lowered its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,782 shares of the company’s stock after selling 22,195 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Keurig Dr Pepper were worth $2,991,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Auxier Asset Management increased its stake in shares of Keurig Dr Pepper by 0.4% during the second quarter. Auxier Asset Management now owns 72,163 shares of the company’s stock valued at $2,386,000 after buying an additional 318 shares during the period. Park Avenue Securities LLC increased its stake in shares of Keurig Dr Pepper by 3.0% during the fourth quarter. Park Avenue Securities LLC now owns 13,691 shares of the company’s stock valued at $383,000 after buying an additional 405 shares during the period. BOKF NA increased its stake in shares of Keurig Dr Pepper by 44.1% during the third quarter. BOKF NA now owns 1,388 shares of the company’s stock valued at $35,000 after buying an additional 425 shares during the period. SBI Securities Co. Ltd. boosted its position in Keurig Dr Pepper by 71.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock valued at $30,000 after purchasing an additional 484 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Keurig Dr Pepper by 0.9% during the third quarter. Ameritas Investment Partners Inc. now owns 57,687 shares of the company’s stock valued at $1,472,000 after purchasing an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $29.09 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The company has a market cap of $39.58 billion, a P/E ratio of 21.55, a PEG ratio of 1.33 and a beta of 0.41. The stock’s 50-day moving average is $27.48 and its 200 day moving average is $27.74. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Research analysts predict that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, March 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. UBS Group raised their price objective on Keurig Dr Pepper from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, April 24th. BNP Paribas Exane raised Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, Evercore set a $30.00 price objective on Keurig Dr Pepper in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.57.

Keurig Dr Pepper 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.