Palouse Capital Management Inc. Sells 1,043 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Palouse Capital Management Inc. trimmed its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 107,894 shares of the company’s stock after selling 1,043 shares during the quarter. Keurig Dr Pepper comprises about 2.5% of Palouse Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Palouse Capital Management Inc.’s holdings in Keurig Dr Pepper were worth $3,692,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Townsquare Capital LLC lifted its position in shares of Keurig Dr Pepper by 2.1% during the 4th quarter. Townsquare Capital LLC now owns 15,734 shares of the company’s stock valued at $505,000 after acquiring an additional 327 shares during the period. Barden Capital Management Inc. lifted its position in shares of Keurig Dr Pepper by 0.9% during the 4th quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock worth $1,280,000 after buying an additional 353 shares during the last quarter. New Age Alpha Advisors LLC lifted its position in shares of Keurig Dr Pepper by 82.8% during the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock worth $28,000 after buying an additional 389 shares during the last quarter. Denali Advisors LLC lifted its position in shares of Keurig Dr Pepper by 1.2% during the 4th quarter. Denali Advisors LLC now owns 35,087 shares of the company’s stock worth $1,127,000 after buying an additional 406 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in shares of Keurig Dr Pepper by 2.3% during the 4th quarter. Horizon Investments LLC now owns 18,216 shares of the company’s stock worth $581,000 after buying an additional 411 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Angela A. Stephens sold 14,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total transaction of $496,480.00. Following the completion of the sale, the vice president now owns 62,411 shares of the company’s stock, valued at $2,136,952.64. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the sale, the insider now directly owns 166,511 shares of the company’s stock, valued at $5,791,252.58. This represents a 6.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 698,500 shares of company stock valued at $23,591,400. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KDP has been the subject of several recent analyst reports. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Hsbc Global Res upgraded Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Barclays upped their price objective on Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler upgraded Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper has an average rating of “Moderate Buy” and an average target price of $39.33.

Keurig Dr Pepper Trading Down 0.4%

Shares of KDP stock opened at $33.02 on Friday. The stock has a market cap of $44.85 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.42 and a beta of 0.48. The stock has a 50-day moving average of $33.90 and a 200-day moving average of $33.07. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 1-year low of $30.12 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. Keurig Dr Pepper’s payout ratio is 83.64%.

About Keurig Dr Pepper

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.