Corient Private Wealth LLC Lowers Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Corient Private Wealth LLC reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,204 shares of the company’s stock after selling 4,622 shares during the quarter. Corient Private Wealth LLC’s holdings in Keurig Dr Pepper were worth $4,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at approximately $35,000. Whipplewood Advisors LLC purchased a new position in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $37,000. Brooklyn Investment Group purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at approximately $61,000. R Squared Ltd purchased a new position in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $70,000. Finally, Cromwell Holdings LLC purchased a new position in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $77,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KDP has been the topic of a number of analyst reports. Piper Sandler initiated coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. TD Cowen decreased their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price target for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.55 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $29.53 and a fifty-two week high of $38.28. The stock has a market cap of $45.52 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The business has a fifty day moving average of $32.44 and a 200-day moving average of $33.68. 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 (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.74%. Keurig Dr Pepper’s payout ratio is currently 87.62%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the completion of the transaction, the insider now directly owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Robert James Gamgort sold 416,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the completion of the transaction, the chairman now owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,397,350 shares of company stock worth $2,756,292,570. 1.00% of the stock is currently owned by insiders.

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.