Prudential PLC Sells 11,458 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Prudential PLC lessened its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 465,224 shares of the company’s stock after selling 11,458 shares during the period. Prudential PLC’s holdings in Keurig Dr Pepper were worth $14,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. New Age Alpha Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 82.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock worth $28,000 after buying an additional 389 shares in the last quarter. LRI Investments LLC bought a new stake in Keurig Dr Pepper in the third quarter valued at $35,000. Whipplewood Advisors LLC acquired a new position in Keurig Dr Pepper during the fourth quarter worth $37,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Keurig Dr Pepper during the fourth quarter valued at $42,000. Finally, Brooklyn Investment Group boosted its stake in shares of Keurig Dr Pepper by 34.0% in the 4th quarter. Brooklyn Investment Group now owns 2,184 shares of the company’s stock valued at $70,000 after purchasing an additional 554 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KDP. JPMorgan Chase & Co. lifted their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $40.00 in a research note on Tuesday. Piper Sandler began coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, Barclays set a $39.00 target price on Keurig Dr Pepper in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.38.

Insider Buying and Selling at Keurig Dr Pepper

In other news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.78, for a total transaction of $417,360.00. Following the transaction, the insider now directly owns 166,511 shares of the company’s stock, valued at $5,791,252.58. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert James Gamgort sold 416,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total value of $14,264,640.00. Following the transaction, the chairman now owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,409,350 shares of company stock valued at $2,756,709,930. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $33.81 on Friday. The company has a market cap of $45.87 billion, a PE ratio of 20.49, a PEG ratio of 2.42 and a beta of 0.54. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 1 year low of $30.12 and a 1 year high of $38.28. The company’s 50-day moving average is $33.05 and its two-hundred day moving average is $33.48.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data 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 firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business 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 $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. Keurig Dr Pepper’s dividend payout ratio is presently 87.62%.

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.