Polar Asset Management Partners Inc. Cuts Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Polar Asset Management Partners Inc. reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 26.8% during the third quarter, HoldingsChannel reports. The fund owned 136,800 shares of the company’s stock after selling 50,000 shares during the period. Polar Asset Management Partners Inc.’s holdings in Keurig Dr Pepper were worth $5,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in shares of Keurig Dr Pepper during the third quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Keurig Dr Pepper by 105.6% during the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock valued at $39,000 after purchasing an additional 530 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Up 0.7 %

NASDAQ KDP opened at $32.62 on Thursday. The stock’s 50-day moving average price is $34.40 and its 200-day moving average price is $34.63. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a market capitalization of $44.25 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.82%. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is 55.76%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KDP shares. Barclays lowered their price target on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group lowered their target price on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company lowered their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, TD Cowen increased their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.36.

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.