Allspring Global Investments Holdings LLC Sells 78,178 Shares of Keurig Dr Pepper, Inc $KDP

Allspring Global Investments Holdings LLC reduced its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,631,284 shares of the company’s stock after selling 78,178 shares during the period. Keurig Dr Pepper accounts for 0.8% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 13th biggest holding. Allspring Global Investments Holdings LLC’s holdings in Keurig Dr Pepper were worth $491,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in shares of Keurig Dr Pepper during the first quarter valued at approximately $25,000. Chung Wu Investment Group LLC purchased a new stake in Keurig Dr Pepper during the second quarter valued at approximately $26,000. WPG Advisers LLC purchased a new stake in Keurig Dr Pepper during the first quarter valued at approximately $43,000. Continuum Advisory LLC raised its holdings in shares of Keurig Dr Pepper by 82.5% in the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company’s stock worth $46,000 after buying an additional 602 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in shares of Keurig Dr Pepper in the first quarter worth $48,000. 93.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America reduced their target price 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. Citigroup dropped their price target on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Jefferies Financial Group set a $41.00 target price on shares of Keurig Dr Pepper in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, July 17th. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Keurig Dr Pepper has an average rating of “Hold” and a consensus price target of $35.00.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $25.82 on Monday. The company’s 50 day simple moving average is $29.39 and its 200-day simple moving average is $32.22. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.43. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $37.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts expect that Keurig Dr Pepper, Inc will post 1.92 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 10th. Stockholders of record on Friday, September 26th were issued a $0.23 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Keurig Dr Pepper’s dividend payout ratio is presently 82.14%.

Insider Buying and Selling at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the company’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares of the company’s stock, valued at approximately $75,412,360.10. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,601 shares of company stock valued at $14,421,512. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.