Sumitomo Mitsui Trust Group Inc. Sells 159,090 Shares of Keurig Dr Pepper, Inc $KDP

Sumitomo Mitsui Trust Group Inc. cut its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,476,429 shares of the company’s stock after selling 159,090 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Keurig Dr Pepper were worth $91,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Keurig Dr Pepper by 290.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock valued at $1,475,000 after purchasing an additional 39,156 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Keurig Dr Pepper during the third quarter worth $2,551,000. Ossiam raised its stake in Keurig Dr Pepper by 508.0% during the third quarter. Ossiam now owns 726,288 shares of the company’s stock worth $18,528,000 after buying an additional 606,826 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Keurig Dr Pepper by 194.6% in the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock valued at $2,438,000 after buying an additional 57,500 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Keurig Dr Pepper by 47.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock valued at $5,030,000 after acquiring an additional 57,797 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Up 3.1%

NASDAQ:KDP traded up $0.95 during trading hours on Friday, reaching $31.67. The company had a trading volume of 7,968,621 shares, compared to its average volume of 16,582,094. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.40 and a beta of 0.40. The business’s 50-day simple moving average is $30.60 and its two-hundred day simple moving average is $28.74. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is 68.15%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KDP shares. The Goldman Sachs Group upgraded Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a report on Thursday, June 25th. Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. 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 research note on Wednesday, April 22nd. Wells Fargo & Company set a $37.00 target price on Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.47.

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.