Los Angeles Capital Management LLC Decreases Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Los Angeles Capital Management LLC lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 60.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,103 shares of the company’s stock after selling 168,615 shares during the period. Los Angeles Capital Management LLC’s holdings in Keurig Dr Pepper were worth $3,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its stake in shares of Keurig Dr Pepper by 44.8% during the 4th quarter. Natixis Advisors L.P. now owns 346,612 shares of the company’s stock worth $11,549,000 after purchasing an additional 107,162 shares in the last quarter. Swiss National Bank raised its holdings in Keurig Dr Pepper by 11.7% in the 4th quarter. Swiss National Bank now owns 3,276,900 shares of the company’s stock valued at $109,186,000 after acquiring an additional 342,000 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Keurig Dr Pepper by 6.9% in the 4th quarter. First Trust Direct Indexing L.P. now owns 27,228 shares of the company’s stock valued at $907,000 after buying an additional 1,752 shares during the period. ICW Investment Advisors LLC grew its holdings in Keurig Dr Pepper by 2.0% in the fourth quarter. ICW Investment Advisors LLC now owns 31,236 shares of the company’s stock valued at $1,041,000 after purchasing an additional 619 shares during the period. Finally, Victory Capital Management Inc. increased its position in Keurig Dr Pepper by 1.9% during the fourth quarter. Victory Capital Management Inc. now owns 3,114,474 shares of the company’s stock worth $103,774,000 after purchasing an additional 58,469 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on KDP shares. TD Cowen lifted their price target on shares of Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Wedbush reduced their price objective on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Jefferies Financial Group dropped their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Barclays lifted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Morgan Stanley decreased their price objective on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.64.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $33.83 on Monday. Keurig Dr Pepper Inc. has a 12-month low of $27.66 and a 12-month high of $34.65. The stock has a market capitalization of $45.86 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.56 and a beta of 0.61. The firm’s 50 day moving average is $30.68 and its 200-day moving average is $31.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Keurig Dr Pepper had a return on equity of 10.18% and a net margin of 14.52%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.86 annualized dividend and a dividend yield of 2.54%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.48%.

Insider Activity

In other Keurig Dr Pepper news, CEO Robert James Gamgort bought 171,821 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average price of $29.10 per share, for a total transaction of $4,999,991.10. Following the acquisition, the chief executive officer now directly owns 3,179,917 shares of the company’s stock, valued at $92,535,584.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the transaction, the insider now owns 331,487,357 shares in the company, valued at $9,579,984,617.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert James Gamgort purchased 171,821 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $29.10 per share, for a total transaction of $4,999,991.10. Following the purchase, the chief executive officer now owns 3,179,917 shares in the company, valued at $92,535,584.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 100,085,652 shares of company stock worth $2,892,832,080. 0.81% of the stock is owned by corporate insiders.

About Keurig Dr Pepper

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.