Evolve Private Wealth LLC Reduces Holdings in Keurig Dr Pepper, Inc $KDP

Evolve Private Wealth LLC trimmed its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 67.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,055 shares of the company’s stock after selling 24,625 shares during the quarter. Evolve Private Wealth LLC’s holdings in Keurig Dr Pepper were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KDP. T. Rowe Price Investment Management Inc. bought a new position in Keurig Dr Pepper in the fourth quarter worth approximately $727,667,000. Norges Bank bought a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at $568,361,000. Capital International Investors increased its stake in shares of Keurig Dr Pepper by 1,987.4% in the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock worth $472,193,000 after purchasing an additional 16,050,437 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Keurig Dr Pepper by 37.0% in the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock worth $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Keurig Dr Pepper by 285.3% in the 4th quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock worth $325,925,000 after purchasing an additional 8,615,869 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Up 3.0%

KDP opened at $33.48 on Friday. The stock has a market cap of $45.56 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.53 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The firm’s fifty day moving average is $29.66 and its 200 day moving average is $28.50. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.Keurig Dr Pepper’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup lowered their target price 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. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Evercore set a $30.00 price objective on Keurig Dr Pepper in a research note on Friday, April 24th. Weiss Ratings raised Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Sanford C. Bernstein started coverage on Keurig Dr Pepper in a research note on Thursday, June 11th. They set an “outperform” rating and a $38.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.40.

About Keurig Dr Pepper

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.