Arrowstreet Capital Limited Partnership Decreases Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Arrowstreet Capital Limited Partnership lessened its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 26.4% in the fourth quarter, HoldingsChannel reports. The fund owned 5,417,136 shares of the company’s stock after selling 1,938,566 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Keurig Dr Pepper were worth $173,998,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares during the last quarter. Norges Bank bought a new stake in shares of Keurig Dr Pepper in the 4th quarter worth approximately $197,819,000. State Street Corp increased its stake in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after buying an additional 4,970,467 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Keurig Dr Pepper by 32.3% during the fourth quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company’s stock valued at $600,189,000 after acquiring an additional 4,562,128 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after acquiring an additional 1,956,138 shares during the period. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Robert James Gamgort sold 416,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the sale, the chairman now owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. This represents a 11.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Angela A. Stephens sold 7,350 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the sale, the vice president now owns 74,587 shares of the company’s stock, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,397,350 shares of company stock valued at $2,756,292,570 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Trading Down 1.5 %

Shares of NASDAQ KDP opened at $33.74 on Monday. The company has a market cap of $45.78 billion, a PE ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The firm’s 50 day moving average price is $32.72 and its 200-day moving average price is $33.52. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Analyst Ratings Changes

Several research analysts have commented on KDP shares. TD Cowen decreased their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Morgan Stanley raised their target price 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. Finally, 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.23.

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.