Novare Capital Management LLC Sells 124,214 Shares of Keurig Dr Pepper, Inc $KDP

Novare Capital Management LLC reduced its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 86.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,875 shares of the company’s stock after selling 124,214 shares during the quarter. Novare Capital Management LLC’s holdings in Keurig Dr Pepper were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Asset Dedication LLC increased its holdings in shares of Keurig Dr Pepper by 3.8% during the 2nd quarter. Asset Dedication LLC now owns 7,922 shares of the company’s stock valued at $262,000 after acquiring an additional 288 shares during the last quarter. Croban boosted its position in Keurig Dr Pepper by 0.9% during the second quarter. Croban now owns 31,849 shares of the company’s stock worth $1,053,000 after purchasing an additional 294 shares during the period. Auxier Asset Management boosted its position in Keurig Dr Pepper by 0.4% during the second quarter. Auxier Asset Management now owns 72,163 shares of the company’s stock worth $2,386,000 after purchasing an additional 318 shares during the period. Private Trust Co. NA grew its holdings in Keurig Dr Pepper by 26.4% during the second quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock valued at $54,000 after purchasing an additional 339 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in shares of Keurig Dr Pepper by 94.1% in the second quarter. NewSquare Capital LLC now owns 796 shares of the company’s stock valued at $26,000 after purchasing an additional 386 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $27.59 on Wednesday. The firm has a market capitalization of $37.48 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. Keurig Dr Pepper, Inc has a 12-month low of $25.03 and a 12-month high of $36.12. The firm has a 50-day moving average price of $28.00 and a 200 day moving average price of $28.90.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Monday, October 27th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.92 annualized dividend and a yield of 3.3%. Keurig Dr Pepper’s payout ratio is currently 79.31%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the vice president directly owned 54,200 shares in the company, valued at $1,599,984. This 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 link. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

KDP has been the subject of several recent analyst reports. TD Cowen reaffirmed a “hold” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. JPMorgan Chase & Co. cut their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Bank of America decreased 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 report on Wednesday, October 8th. Piper Sandler lifted their price objective on Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group cut Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $32.00 in a research report on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.87.

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.