Franklin Resources Inc. Sells 972,827 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Franklin Resources Inc. lessened its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 25.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,796,350 shares of the company’s stock after selling 972,827 shares during the period. Franklin Resources Inc.’s holdings in Keurig Dr Pepper were worth $98,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Commerce Bank lifted its stake in shares of Keurig Dr Pepper by 2.9% in the 1st quarter. Commerce Bank now owns 18,957 shares of the company’s stock worth $718,000 after purchasing an additional 530 shares during the period. Strs Ohio raised its stake in Keurig Dr Pepper by 30.0% during the 2nd quarter. Strs Ohio now owns 508,057 shares of the company’s stock worth $17,980,000 after acquiring an additional 117,123 shares during the period. JPMorgan Chase & Co. raised its stake in Keurig Dr Pepper by 25.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,426,840 shares of the company’s stock worth $333,615,000 after acquiring an additional 1,921,806 shares during the period. Quadrant Capital Group LLC raised its stake in Keurig Dr Pepper by 39.1% during the 1st quarter. Quadrant Capital Group LLC now owns 5,225 shares of the company’s stock worth $198,000 after acquiring an additional 1,468 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Keurig Dr Pepper by 115.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 776,937 shares of the company’s stock worth $27,496,000 after acquiring an additional 416,091 shares during the period. Institutional investors own 52.29% of the company’s stock.

Keurig Dr Pepper Trading Down 0.0 %

Shares of KDP opened at $38.32 on Thursday. The company has a 50 day simple moving average of $37.75 and a two-hundred day simple moving average of $37.80. Keurig Dr Pepper Inc. has a 1 year low of $33.35 and a 1 year high of $41.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.60 and a quick ratio of 0.40. The firm has a market cap of $54.27 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.24 and a beta of 0.63.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a $0.20 dividend. The ex-dividend date was Thursday, September 29th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial cut shares of Keurig Dr Pepper from a “hold” rating to a “sell” rating and decreased their target price for the stock from $40.00 to $30.00 in a research note on Monday, October 31st. The Goldman Sachs Group cut shares of Keurig Dr Pepper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $39.00 to $37.00 in a research note on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, October 17th. Barclays increased their price objective on shares of Keurig Dr Pepper from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Finally, UBS Group increased their price objective on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.75.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Maurice Anthony Milikin bought 12,986 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was purchased at an average cost of $38.97 per share, with a total value of $506,064.42. Following the completion of the acquisition, the insider now owns 142,776 shares in the company, valued at approximately $5,563,980.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 275,000 shares of Keurig Dr Pepper stock in a transaction on Monday, August 29th. The shares were sold at an average price of $38.67, for a total transaction of $10,634,250.00. Following the completion of the transaction, the chairman now directly owns 4,253,186 shares of the company’s stock, valued at $164,470,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maurice Anthony Milikin acquired 12,986 shares of the company’s stock in a transaction on Monday, September 12th. The shares were purchased at an average cost of $38.97 per share, with a total value of $506,064.42. Following the completion of the purchase, the insider now directly owns 142,776 shares of the company’s stock, valued at $5,563,980.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 822,300 shares of company stock valued at $31,306,009. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Profile

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. 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.

Further Reading

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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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