OLD National Bancorp IN Sells 4,135 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

OLD National Bancorp IN decreased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,548 shares of the company’s stock after selling 4,135 shares during the period. OLD National Bancorp IN’s holdings in Keurig Dr Pepper were worth $351,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Keurig Dr Pepper by 7.2% in the third quarter. Vanguard Group Inc. now owns 82,196,547 shares of the company’s stock valued at $2,594,945,000 after acquiring an additional 5,490,242 shares during the last quarter. FMR LLC lifted its stake in Keurig Dr Pepper by 12.9% in the third quarter. FMR LLC now owns 60,682,003 shares of the company’s stock valued at $1,915,731,000 after buying an additional 6,926,582 shares during the period. Wellington Management Group LLP lifted its stake in Keurig Dr Pepper by 2.3% in the third quarter. Wellington Management Group LLP now owns 42,458,054 shares of the company’s stock valued at $1,340,401,000 after buying an additional 953,639 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Keurig Dr Pepper by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,213,050 shares of the company’s stock valued at $506,899,000 after buying an additional 1,518,286 shares during the period. Finally, Invesco Ltd. lifted its stake in Keurig Dr Pepper by 1.0% in the third quarter. Invesco Ltd. now owns 14,774,908 shares of the company’s stock valued at $466,444,000 after buying an additional 151,368 shares during the period. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Up 1.8 %

NASDAQ:KDP opened at $32.34 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.38. The company has a market cap of $44.87 billion, a PE ratio of 20.86, a PEG ratio of 2.42 and a beta of 0.66. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $35.99. The stock has a 50-day simple moving average of $30.30 and a 200 day simple moving average of $31.03.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 9.93% and a net margin of 14.72%. Keurig Dr Pepper’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.66%. Keurig Dr Pepper’s payout ratio is presently 55.48%.

Insider Buying and Selling

In related news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total transaction of $1,501,543,485.80. Following the completion of the transaction, the insider now directly owns 331,487,357 shares in the company, valued at $9,579,984,617.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Keurig Dr Pepper news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the firm’s 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 completion of the transaction, the insider now directly owns 331,487,357 shares in the company, valued at $9,579,984,617.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the transaction, the director now owns 37,643 shares of the company’s stock, valued at $1,101,057.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,012,132 shares of company stock worth $2,890,354,861. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on KDP shares. Wedbush cut their target price on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Royal Bank of Canada cut their target price on Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Jefferies Financial Group cut their target price on Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Morgan Stanley cut their target price on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Finally, Barclays increased their target price on Keurig Dr Pepper from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.45.

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.