Asahi Life Asset Management CO. LTD. Trims Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Asahi Life Asset Management CO. LTD. cut its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 59.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,100 shares of the company’s stock after selling 7,480 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Keurig Dr Pepper were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Zions Bancorporation N.A. increased its stake in Keurig Dr Pepper by 1,156.7% during the first quarter. Zions Bancorporation N.A. now owns 842 shares of the company’s stock worth $29,000 after acquiring an additional 775 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new stake in Keurig Dr Pepper during the first quarter worth about $44,000. Signaturefd LLC increased its stake in Keurig Dr Pepper by 17.8% during the first quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $76,000 after acquiring an additional 337 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Keurig Dr Pepper by 16.4% during the first quarter. Quadrant Capital Group LLC now owns 2,652 shares of the company’s stock worth $91,000 after acquiring an additional 373 shares during the last quarter. Finally, Eukles Asset Management acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at about $92,000. Hedge funds and other institutional investors own 46.97% of the company’s stock.

In related news, insider Herbert Derek Hopkins sold 38,513 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $35.04, for a total transaction of $1,349,495.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Justin Whitmore purchased 1,025 shares of the stock in a transaction dated Thursday, August 19th. The shares were purchased at an average price of $34.34 per share, for a total transaction of $35,198.50. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of research analysts recently commented on KDP shares. TheStreet raised Keurig Dr Pepper from a “d” rating to a “b-” rating in a report on Thursday, July 29th. Wells Fargo & Company raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $36.00 to $42.00 in a report on Tuesday, June 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.17.

Shares of NASDAQ KDP opened at $35.02 on Wednesday. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69. Keurig Dr Pepper Inc. has a 12-month low of $26.67 and a 12-month high of $37.11. The company has a current ratio of 0.38, a quick ratio of 0.25 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $35.09 and its 200 day simple moving average is $35.09.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.07 billion. Keurig Dr Pepper had a return on equity of 8.91% and a net margin of 13.49%. As a group, equities analysts forecast that Keurig Dr Pepper Inc. will post 1.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.14%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 53.57%.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.

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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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