Private Management Group Inc. Sells 23,606 Shares of Keurig Dr Pepper, Inc $KDP

Private Management Group Inc. cut its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,503,528 shares of the company’s stock after selling 23,606 shares during the period. Keurig Dr Pepper accounts for about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 11th biggest holding. Private Management Group Inc.’s holdings in Keurig Dr Pepper were worth $45,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Keurig Dr Pepper in the second quarter worth $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Keurig Dr Pepper during the second quarter valued at $767,105,000. Dimensional Fund Advisors LP boosted its holdings in shares of Keurig Dr Pepper by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,585,791 shares of the company’s stock valued at $252,408,000 after buying an additional 103,505 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter valued at $281,503,000. Finally, Legal & General Group Plc bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter valued at $269,336,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $36.94 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.52 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $32.96 and a 200-day moving average price of $30.25. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $37.88. The firm has a market capitalization of $50.27 billion, a PE ratio of 33.89, a P/E/G ratio of 1.75 and a beta of 0.35.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Keurig Dr Pepper had a net margin of 7.12% and a return on equity of 11.27%. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.33 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 70.6% compared to the same quarter last year. As a group, equities research analysts expect that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were paid a dividend of $0.23 per share. The ex-dividend date was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. Keurig Dr Pepper’s payout ratio is currently 84.40%.

Analyst Ratings Changes

Several equities research analysts recently commented on KDP shares. Argus reissued a “buy” rating and set a $36.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, September 15th. Morgan Stanley raised their target price on shares of Keurig Dr Pepper from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Keurig Dr Pepper in a report on Wednesday, November 4th. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the company from $37.00 to $40.00 in a report on Thursday, August 13th. Finally, Citigroup boosted their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.29.

Insider Buying and Selling at Keurig Dr Pepper

In other news, VP Angela Stephens sold 9,500 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total transaction of $310,650.00. Following the transaction, the vice president directly owned 55,786 shares of the company’s stock, valued at $1,824,202.20. This represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Aaron Alt bought 7,862 shares of the stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $31.83 per share, for a total transaction of $250,247.46. Following the acquisition, the director owned 7,862 shares of the company’s stock, valued at $250,247.46. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.34% of the company’s stock.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.