King Luther Capital Management Corp Trims Holdings in Keurig Dr Pepper, Inc $KDP

King Luther Capital Management Corp decreased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 66.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 831,065 shares of the company’s stock after selling 1,641,051 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of Keurig Dr Pepper worth $21,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in shares of Keurig Dr Pepper by 94.1% during the 2nd quarter. NewSquare Capital LLC now owns 796 shares of the company’s stock worth $26,000 after buying an additional 386 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Keurig Dr Pepper in the second quarter valued at $26,000. Root Financial Partners LLC purchased a new stake in Keurig Dr Pepper in the third quarter valued at $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Keurig Dr Pepper by 102,300.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company’s stock valued at $34,000 after acquiring an additional 1,023 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Keurig Dr Pepper by 71.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company’s stock worth $30,000 after purchasing an additional 484 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KDP has been the subject of several research reports. Wells Fargo & Company boosted their target price on Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Piper Sandler boosted their price objective on Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $32.00 in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Wednesday, January 28th. Finally, Barclays increased their price target on shares of 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, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.87.

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction that occurred 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 $1,599,984. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Keurig Dr Pepper Trading Down 0.1%

Shares of Keurig Dr Pepper stock opened at $29.10 on Friday. 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 company’s 50-day simple moving average is $28.13 and its 200-day simple moving average is $28.39. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.99 and a beta of 0.34.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Keurig Dr Pepper’s dividend payout ratio is 79.31%.

Keurig Dr Pepper Company 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.