Tocqueville Asset Management L.P. Lowers Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Tocqueville Asset Management L.P. lessened its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,364 shares of the company’s stock after selling 71,634 shares during the period. Tocqueville Asset Management L.P.’s holdings in Keurig Dr Pepper were worth $9,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KDP. GSA Capital Partners LLP lifted its position in shares of Keurig Dr Pepper by 34.5% during the 3rd quarter. GSA Capital Partners LLP now owns 20,754 shares of the company’s stock valued at $778,000 after buying an additional 5,329 shares in the last quarter. Huntington National Bank lifted its position in shares of Keurig Dr Pepper by 12.4% during the 3rd quarter. Huntington National Bank now owns 3,938 shares of the company’s stock valued at $148,000 after buying an additional 435 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Keurig Dr Pepper by 18.7% during the 3rd quarter. Natixis Advisors LLC now owns 710,239 shares of the company’s stock valued at $26,620,000 after buying an additional 111,892 shares in the last quarter. Swiss National Bank lifted its position in shares of Keurig Dr Pepper by 0.5% during the 3rd quarter. Swiss National Bank now owns 3,219,000 shares of the company’s stock valued at $120,648,000 after buying an additional 15,200 shares in the last quarter. Finally, Clarkston Capital Partners LLC lifted its position in shares of Keurig Dr Pepper by 0.3% during the 3rd quarter. Clarkston Capital Partners LLC now owns 588,802 shares of the company’s stock valued at $22,068,000 after buying an additional 1,481 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now directly owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela A. Stephens sold 7,350 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the sale, the vice president now owns 74,587 shares in the company, valued at $2,548,637.79. This represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,385,350 shares of company stock valued at $2,755,891,890 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KDP shares. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Morgan Stanley raised their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Barclays set a $39.00 target price on Keurig Dr Pepper in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Keurig Dr Pepper Trading Up 0.7 %

NASDAQ:KDP opened at $33.84 on Tuesday. The firm has a market cap of $45.91 billion, a P/E ratio of 20.51, a PEG ratio of 2.42 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $32.22 and its 200-day simple moving average is $33.72. Keurig Dr Pepper Inc. has a 12-month low of $28.80 and a 12-month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is presently 87.62%.

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.