Essential Partners LLC Reduces Position in Keurig Dr Pepper, Inc $KDP

Essential Partners LLC lessened its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 84.4% during the 1st quarter, Holdings Channel reports. The firm owned 5,049 shares of the company’s stock after selling 27,331 shares during the quarter. Essential Partners LLC’s holdings in Keurig Dr Pepper were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of KDP. Groupe la Francaise lifted its stake in shares of Keurig Dr Pepper by 13.3% during the first quarter. Groupe la Francaise now owns 139,818 shares of the company’s stock worth $3,681,000 after buying an additional 16,399 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Keurig Dr Pepper during the first quarter valued at $314,000. Bank of America Corp DE increased its position in shares of Keurig Dr Pepper by 1.2% in the 1st quarter. Bank of America Corp DE now owns 8,233,747 shares of the company’s stock valued at $216,795,000 after acquiring an additional 96,646 shares during the period. Bull Harbor Capital LLC acquired a new position in shares of Keurig Dr Pepper in the 1st quarter valued at $631,000. Finally, Arkadios Wealth Advisors raised its stake in Keurig Dr Pepper by 15.5% in the 1st quarter. Arkadios Wealth Advisors now owns 85,047 shares of the company’s stock worth $2,239,000 after acquiring an additional 11,411 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

KDP has been the subject of a number of research reports. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research report on Wednesday, July 8th. Evercore set a $30.00 price objective on Keurig Dr Pepper in a research note on Friday, April 24th. BNP Paribas Exane raised Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a report on Wednesday, April 22nd. Barclays raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $36.00 in a report on Thursday, June 25th. Finally, Citigroup upped their target price on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Keurig Dr Pepper has a consensus rating of “Hold” and a consensus target price of $33.40.

Keurig Dr Pepper Trading Down 1.4%

NASDAQ KDP opened at $31.12 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $35.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The company has a market capitalization of $42.34 billion, a PE ratio of 23.05, a P/E/G ratio of 1.42 and a beta of 0.40. The company has a fifty day moving average of $31.10 and a 200 day moving average of $29.03.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper’s payout ratio is 68.15%.

About Keurig Dr Pepper

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.