Arrowstreet Capital Limited Partnership Sells 1,938,566 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Arrowstreet Capital Limited Partnership reduced its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,417,136 shares of the company’s stock after selling 1,938,566 shares during the period. Arrowstreet Capital Limited Partnership owned 0.40% of Keurig Dr Pepper worth $173,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allstate Corp bought a new stake in Keurig Dr Pepper in the 4th quarter valued at $1,096,000. DnB Asset Management AS boosted its position in shares of Keurig Dr Pepper by 11.6% in the fourth quarter. DnB Asset Management AS now owns 271,248 shares of the company’s stock valued at $8,712,000 after acquiring an additional 28,285 shares during the period. Riverchase Wealth Management LLC acquired a new position in shares of Keurig Dr Pepper in the fourth quarter valued at about $698,000. Orion Portfolio Solutions LLC increased its holdings in shares of Keurig Dr Pepper by 11.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 110,299 shares of the company’s stock worth $3,543,000 after purchasing an additional 11,557 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in Keurig Dr Pepper by 15.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 676,729 shares of the company’s stock worth $21,737,000 after acquiring an additional 92,214 shares during the period. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 1.5 %

NASDAQ:KDP opened at $33.74 on Monday. Keurig Dr Pepper Inc. has a 1 year low of $30.12 and a 1 year high of $38.28. The stock’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $33.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The company has a market cap of $45.78 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.62.

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

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is presently 87.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler started coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 target price for the company. TD Cowen reduced their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Morgan Stanley upped their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.23.

Insider Buying and Selling at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the transaction, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $33.39, for a total transaction of $400,680.00. Following the completion of the sale, the insider now directly owns 178,511 shares in the company, valued at $5,960,482.29. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,397,350 shares of company stock valued at $2,756,292,570 in the last three months. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Company Profile

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.