Parr Mcknight Wealth Management Group LLC Has $785,000 Stock Holdings in Keurig Dr Pepper, Inc $KDP

Parr Mcknight Wealth Management Group LLC lessened its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 49.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,022 shares of the company’s stock after selling 27,718 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Keurig Dr Pepper were worth $785,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KDP. Norges Bank bought a new position in Keurig Dr Pepper during the 4th quarter worth approximately $568,361,000. Marshall Wace LLP increased its position in shares of Keurig Dr Pepper by 1,546.0% during the third quarter. Marshall Wace LLP now owns 2,937,129 shares of the company’s stock worth $74,926,000 after buying an additional 2,758,685 shares during the period. Man Group plc increased its position in shares of Keurig Dr Pepper by 4,084.2% during the third quarter. Man Group plc now owns 2,411,713 shares of the company’s stock worth $61,523,000 after buying an additional 2,354,075 shares during the period. Voloridge Investment Management LLC increased its position in shares of Keurig Dr Pepper by 2,129.0% during the third quarter. Voloridge Investment Management LLC now owns 2,374,879 shares of the company’s stock worth $60,583,000 after buying an additional 2,268,336 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Keurig Dr Pepper by 90.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,161,158 shares of the company’s stock worth $115,597,000 after buying an additional 1,973,269 shares during the period. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $30.03 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $40.86 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.37 and a beta of 0.41. The firm has a fifty day simple moving average of $27.63 and a two-hundred day simple moving average of $27.99. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. Analysts expect that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $0.23 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Analysts Set New Price Targets

A number of analysts have weighed in on KDP shares. Citigroup decreased their price target on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Evercore set a $30.00 price target on Keurig Dr Pepper in a report on Friday, April 24th. Wells Fargo & Company decreased their price target on Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Barclays raised their target price on Keurig Dr Pepper from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.57.

About Keurig Dr Pepper

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.