Icon Wealth Advisors LLC Sells 462 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Icon Wealth Advisors LLC decreased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,159 shares of the company’s stock after selling 462 shares during the period. Icon Wealth Advisors LLC’s holdings in Keurig Dr Pepper were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of KDP. Suvretta Capital Management LLC bought a new stake in Keurig Dr Pepper during the third quarter valued at about $26,352,000. Vinva Investment Management Ltd lifted its position in shares of Keurig Dr Pepper by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 40,347 shares of the company’s stock valued at $1,510,000 after buying an additional 1,170 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Keurig Dr Pepper by 39.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,171,557 shares of the company’s stock valued at $43,910,000 after acquiring an additional 332,500 shares during the period. National Wealth Management Group LLC purchased a new stake in Keurig Dr Pepper in the 3rd quarter worth approximately $353,000. Finally, True Vision MN LLC raised its stake in Keurig Dr Pepper by 22.3% during the 3rd quarter. True Vision MN LLC now owns 14,164 shares of the company’s stock worth $534,000 after acquiring an additional 2,579 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $32.58 on Friday. The stock has a market cap of $44.19 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The stock has a 50 day moving average price of $34.82 and a 200-day moving average price of $34.67. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 55.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Barclays dropped their price objective on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company decreased their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Citigroup dropped their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.36.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

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.