Money Concepts Capital Corp Has $577,000 Stake in Keurig Dr Pepper, Inc $KDP

Money Concepts Capital Corp trimmed its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 63.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,603 shares of the company’s stock after selling 39,411 shares during the period. Money Concepts Capital Corp’s holdings in Keurig Dr Pepper were worth $577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd bought a new stake in Keurig Dr Pepper during the third quarter worth about $1,217,000. Bank of New York Mellon Corp increased its stake in shares of Keurig Dr Pepper by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 7,927,144 shares of the company’s stock valued at $202,221,000 after buying an additional 223,160 shares during the period. State of Michigan Retirement System grew its position in shares of Keurig Dr Pepper by 14.0% in the 2nd quarter. State of Michigan Retirement System now owns 369,300 shares of the company’s stock valued at $12,209,000 after buying an additional 45,400 shares during the last quarter. Callan Family Office LLC increased its position in shares of Keurig Dr Pepper by 290.4% during the second quarter. Callan Family Office LLC now owns 28,458 shares of the company’s stock worth $941,000 after buying an additional 21,168 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Keurig Dr Pepper by 7.0% during the 2nd quarter. ProShare Advisors LLC now owns 2,134,176 shares of the company’s stock valued at $70,556,000 after purchasing an additional 140,012 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $27.97 on Wednesday. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $28.00 and a two-hundred day simple moving average of $28.69. The stock has a market capitalization of $38.00 billion, a P/E ratio of 24.11, a PEG ratio of 1.89 and a beta of 0.34.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 27th. Keurig Dr Pepper’s payout ratio is currently 79.31%.

Analysts Set New Price Targets

Several analysts recently issued reports on KDP shares. Piper Sandler lifted their price target on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. UBS Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, October 28th. Wells Fargo & Company upped their price target on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Jefferies Financial Group lowered shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $32.00 in a research report on Tuesday, December 16th. Finally, Barclays lifted their price target on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.87.

Insider Activity at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the sale, the vice president directly owned 54,200 shares in the company, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.