Victory Capital Management Inc. Sells 2,379,078 Shares of Keurig Dr Pepper, Inc $KDP

Victory Capital Management Inc. reduced its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 46.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,717,642 shares of the company’s stock after selling 2,379,078 shares during the quarter. Victory Capital Management Inc.’s holdings in Keurig Dr Pepper were worth $69,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AustralianSuper Pty Ltd bought a new stake in Keurig Dr Pepper in the 3rd quarter valued at $1,217,000. Bank of New York Mellon Corp boosted its position in Keurig Dr Pepper by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 7,927,144 shares of the company’s stock worth $202,221,000 after purchasing an additional 223,160 shares during the period. Candriam S.C.A. increased its holdings in shares of Keurig Dr Pepper by 50.9% in the third quarter. Candriam S.C.A. now owns 377,667 shares of the company’s stock valued at $9,634,000 after purchasing an additional 127,389 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Keurig Dr Pepper by 7.0% in the second quarter. ProShare Advisors LLC now owns 2,134,176 shares of the company’s stock valued at $70,556,000 after purchasing an additional 140,012 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Keurig Dr Pepper by 69.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 105,015 shares of the company’s stock valued at $2,660,000 after purchasing an additional 43,223 shares during the period. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Down 2.8%

NASDAQ KDP opened at $28.05 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.43 and a debt-to-equity ratio of 0.51. The company has a market cap of $38.11 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.55 and a beta of 0.33. The company has a 50 day moving average of $28.41 and a 200-day moving average of $28.08. Keurig Dr Pepper, Inc has a 1-year low of $25.03 and a 1-year high of $36.12.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.35 billion. Keurig Dr Pepper had a return on equity of 11.14% and a net margin of 12.52%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. Keurig Dr Pepper has set its FY 2026 guidance at 2.130-2.170 EPS. On average, equities research analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.92 annualized dividend and a yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio is currently 60.13%.

Wall Street Analysts Forecast Growth

KDP has been the subject of several research analyst reports. Barclays lifted their target price on shares of Keurig Dr Pepper from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Wednesday, January 28th. Piper Sandler increased their target price 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. Jefferies Financial Group cut Keurig Dr Pepper from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $32.00 in a report on Tuesday, December 16th. Finally, UBS Group restated a “buy” rating and issued a $36.00 price target on shares of Keurig Dr Pepper in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is owned by insiders.

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.