Palouse Capital Management Inc. Sells 3,746 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Palouse Capital Management Inc. cut its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,828 shares of the company’s stock after selling 3,746 shares during the period. Keurig Dr Pepper comprises about 2.6% of Palouse Capital Management Inc.’s holdings, making the stock its 9th largest position. Palouse Capital Management Inc.’s holdings in Keurig Dr Pepper were worth $4,079,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Keurig Dr Pepper by 312.1% in 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 during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position 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 worth $27,000 after purchasing an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake 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 acquiring an additional 301 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Keurig Dr Pepper during the 2nd quarter worth approximately $35,000. Finally, Riverview Trust Co bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth about $39,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

KDP traded up $0.07 during trading on Monday, hitting $37.01. The stock had a trading volume of 4,039,235 shares, compared to its average volume of 8,616,789. The firm has a market cap of $50.17 billion, a PE ratio of 23.88, a P/E/G ratio of 2.73 and a beta of 0.62. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $28.32 and a 12 month high of $38.28. The company has a 50 day simple moving average of $36.64 and a 200-day simple moving average of $34.49.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 59.35%.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BNP Paribas initiated coverage on Keurig Dr Pepper in a research report on Monday, June 24th. They issued a “neutral” rating and a $36.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Citigroup upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $43.00 in a report on Monday, September 23rd. Finally, Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.21.

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.