Los Angeles Capital Management LLC Lowers Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Los Angeles Capital Management LLC cut its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 60.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,103 shares of the company’s stock after selling 168,615 shares during the period. Los Angeles Capital Management LLC’s holdings in Keurig Dr Pepper were worth $3,602,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors L.P. grew its holdings in shares of Keurig Dr Pepper by 44.8% in the fourth quarter. Natixis Advisors L.P. now owns 346,612 shares of the company’s stock valued at $11,549,000 after purchasing an additional 107,162 shares in the last quarter. Swiss National Bank boosted its position in Keurig Dr Pepper by 11.7% in the 4th quarter. Swiss National Bank now owns 3,276,900 shares of the company’s stock valued at $109,186,000 after buying an additional 342,000 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Keurig Dr Pepper by 6.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 27,228 shares of the company’s stock worth $907,000 after acquiring an additional 1,752 shares in the last quarter. ICW Investment Advisors LLC increased its position in shares of Keurig Dr Pepper by 2.0% during the fourth quarter. ICW Investment Advisors LLC now owns 31,236 shares of the company’s stock worth $1,041,000 after acquiring an additional 619 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Keurig Dr Pepper by 1.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,114,474 shares of the company’s stock valued at $103,774,000 after acquiring an additional 58,469 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In other news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the completion of the sale, the insider now directly owns 331,487,357 shares of the company’s stock, valued at $9,579,984,617.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick Minogue sold 17,293 shares of Keurig Dr Pepper stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $33.59, for a total value of $580,871.87. Following the transaction, the insider now directly owns 67,103 shares in the company, valued at approximately $2,253,989.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 331,487,357 shares of the company’s stock, valued at approximately $9,579,984,617.30. The disclosure for this sale can be found here. Insiders have sold 100,085,652 shares of company stock valued at $2,892,832,080 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.83 on Monday. The company has a fifty day moving average of $30.68 and a two-hundred day moving average of $31.28. The company has a market capitalization of $45.86 billion, a PE ratio of 21.83, a P/E/G ratio of 2.56 and a beta of 0.61. Keurig Dr Pepper Inc. has a 1 year low of $27.66 and a 1 year high of $34.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.41 billion. Keurig Dr Pepper had a return on equity of 10.18% and a net margin of 14.52%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. As a group, analysts expect that Keurig Dr Pepper Inc. will post 1.91 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.215 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.54%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Wedbush decreased their price target on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Royal Bank of Canada lowered their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. TD Cowen raised their price objective on shares of Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.64.

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.