Exchange Traded Concepts LLC Has $559,000 Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Posted by Defense World Staff on Oct 7th, 2023

Exchange Traded Concepts LLC lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,889 shares of the company’s stock after selling 594 shares during the period. Exchange Traded Concepts LLC’s holdings in Keurig Dr Pepper were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 99,740.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 324,915,003 shares of the company’s stock worth $11,586,469,000 after acquiring an additional 324,589,570 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Keurig Dr Pepper by 1.1% in the 1st quarter. BlackRock Inc. now owns 68,972,718 shares of the company’s stock worth $2,433,358,000 after acquiring an additional 749,695 shares during the last quarter. FMR LLC raised its position in Keurig Dr Pepper by 14.5% in the 1st quarter. FMR LLC now owns 50,195,232 shares of the company’s stock valued at $1,770,888,000 after buying an additional 6,338,412 shares during the last quarter. Vanguard Group Inc. raised its position in Keurig Dr Pepper by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 49,026,596 shares of the company’s stock valued at $1,858,108,000 after buying an additional 3,853,922 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Keurig Dr Pepper by 32.1% in the 1st quarter. Wellington Management Group LLP now owns 39,827,389 shares of the company’s stock valued at $1,405,110,000 after buying an additional 9,685,210 shares during the last quarter. 52.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Karin Rotem-Wildeman purchased 47,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $34.37 per share, for a total transaction of $1,615,390.00. Following the completion of the transaction, the insider now owns 56,514 shares in the company, valued at $1,942,386.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Karin Rotem-Wildeman acquired 47,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average price of $34.37 per share, with a total value of $1,615,390.00. Following the completion of the purchase, the insider now owns 56,514 shares in the company, valued at $1,942,386.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Andrew Archambault sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $33.61, for a total transaction of $1,344,400.00. Following the transaction, the insider now directly owns 16,800 shares of the company’s stock, valued at approximately $564,648. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Keurig Dr Pepper Trading Down 0.5 %

Shares of KDP stock opened at $30.07 on Friday. Keurig Dr Pepper Inc. has a 12-month low of $29.17 and a 12-month high of $39.73. The company has a 50 day moving average of $33.14 and a 200-day moving average of $32.60. The firm has a market cap of $42.02 billion, a P/E ratio of 26.38, a PEG ratio of 2.61 and a beta of 0.59. The company has a quick ratio of 0.24, a current ratio of 0.39 and a debt-to-equity ratio of 0.39.

Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last posted its earnings results on Thursday, July 27th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.69 billion. Keurig Dr Pepper had a net margin of 11.00% and a return on equity of 9.72%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.78 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.215 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, September 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 75.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KDP shares. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, July 17th. UBS Group upgraded shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a research note on Tuesday, August 15th. Wedbush decreased their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 in a research note on Tuesday, July 11th. StockNews.com assumed coverage on shares of Keurig Dr Pepper in a research note on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

View Our Latest Analysis on KDP

About Keurig Dr Pepper

(Free Report)

Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.