Ieq Capital LLC Sells 2,490 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Posted by Defense World Staff on Apr 30th, 2023

Ieq Capital LLC lessened its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Get Rating) by 18.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,246 shares of the company’s stock after selling 2,490 shares during the period. Ieq Capital LLC’s holdings in Keurig Dr Pepper were worth $401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 69,193,943 shares of the company’s stock worth $2,478,527,000 after purchasing an additional 4,898,078 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Keurig Dr Pepper by 6.9% in the 3rd quarter. BlackRock Inc. now owns 67,605,675 shares of the company’s stock worth $2,421,636,000 after purchasing an additional 4,361,181 shares in the last quarter. State Street Corp increased its holdings in shares of Keurig Dr Pepper by 12.8% in the 3rd quarter. State Street Corp now owns 35,758,036 shares of the company’s stock worth $1,287,901,000 after purchasing an additional 4,050,118 shares in the last quarter. Boston Partners increased its holdings in shares of Keurig Dr Pepper by 2.8% in the 3rd quarter. Boston Partners now owns 20,158,696 shares of the company’s stock worth $722,976,000 after purchasing an additional 540,482 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Keurig Dr Pepper by 9.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,747,187 shares of the company’s stock worth $241,684,000 after purchasing an additional 608,662 shares in the last quarter. Institutional investors own 52.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on KDP shares. Citigroup initiated coverage on Keurig Dr Pepper in a report on Thursday, February 16th. They issued a “neutral” rating and a $37.00 target price for the company. Wells Fargo & Company dropped their price target on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 3rd. Barclays dropped their price target on Keurig Dr Pepper from $42.00 to $37.00 in a research note on Friday. JPMorgan Chase & Co. raised their price target on Keurig Dr Pepper from $40.00 to $41.00 in a research note on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Keurig Dr Pepper from $36.00 to $35.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.56.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $32.70 on Friday. The company has a market capitalization of $45.99 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.39. The business’s fifty day moving average is $35.14 and its 200 day moving average is $35.77. Keurig Dr Pepper Inc. has a fifty-two week low of $32.29 and a fifty-two week high of $41.31.

Keurig Dr Pepper (NASDAQ:KDP – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Keurig Dr Pepper had a return on equity of 9.52% and a net margin of 9.20%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.79 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were given a $0.20 dividend. The ex-dividend date was Thursday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.45%. Keurig Dr Pepper’s payout ratio is 79.21%.

Insider Activity

In other Keurig Dr Pepper news, CFO Sudhanshu Shekhar Priyadarshi acquired 20,000 shares of the stock in a transaction dated Monday, February 27th. The shares were acquired at an average cost of $35.59 per share, for a total transaction of $711,800.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,067,700. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mondelez International, Inc. sold 30,000,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $34.42, for a total value of $1,032,600,000.00. Following the completion of the sale, the director now owns 45,543,005 shares in the company, valued at $1,567,590,232.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sudhanshu Shekhar Priyadarshi bought 20,000 shares of the stock in a transaction on Monday, February 27th. The shares were bought at an average price of $35.59 per share, with a total value of $711,800.00. Following the acquisition, the chief financial officer now owns 30,000 shares of the company’s stock, valued at $1,067,700. The disclosure for this purchase can be found here. Insiders have acquired 64,797 shares of company stock worth $2,259,558 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

About Keurig Dr Pepper

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Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes the manufacture and distribution of finished goods relating to coffee, pods, and brewers.