Clarkston Capital Partners LLC Sells 442,470 Shares of Keurig Dr Pepper, Inc $KDP

Clarkston Capital Partners LLC reduced its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 87.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,500 shares of the company’s stock after selling 442,470 shares during the period. Clarkston Capital Partners LLC’s holdings in Keurig Dr Pepper were worth $1,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KDP. T. Rowe Price Investment Management Inc. bought a new position in Keurig Dr Pepper during the fourth quarter worth about $727,667,000. Norges Bank bought a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $568,361,000. Capital International Investors grew 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 valued at $472,193,000 after purchasing an additional 16,050,437 shares during the period. Wellington Management Group LLP raised its holdings 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 buying an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 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 buying an additional 8,615,869 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KDP shares. UBS Group boosted their price target on Keurig Dr Pepper from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a research note on Wednesday, July 1st. Evercore set a $30.00 price objective on Keurig Dr Pepper in a report on Friday, April 24th. Zacks Research downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.40.

Keurig Dr Pepper Stock Performance

KDP stock opened at $29.67 on Friday. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The company has a market cap of $40.37 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The business’s fifty day moving average is $30.88 and its 200-day moving average is $28.90.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data 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. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter last year, the firm earned $0.42 EPS. Keurig Dr Pepper’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is 68.15%.

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.