Healthcare of Ontario Pension Plan Trust Fund Sells 701,071 Shares of Keurig Dr Pepper, Inc $KDP

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 61.3% in the first quarter, HoldingsChannel.com reports. The fund owned 441,689 shares of the company’s stock after selling 701,071 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Keurig Dr Pepper were worth $11,630,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KDP. Northwestern Mutual Wealth Management Co. raised its stake in Keurig Dr Pepper by 290.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after buying an additional 39,156 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Keurig Dr Pepper by 194.6% during the 4th quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock worth $2,438,000 after acquiring an additional 57,500 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Keurig Dr Pepper by 47.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after acquiring an additional 57,797 shares during the period. Principal Financial Group Inc. raised its position in shares of Keurig Dr Pepper by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after acquiring an additional 47,184 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Keurig Dr Pepper by 4,366.8% in the 4th quarter. M&T Bank Corp now owns 1,370,428 shares of the company’s stock valued at $38,386,000 after purchasing an additional 1,339,748 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KDP shares. Wells Fargo & Company set a $37.00 price target on Keurig Dr Pepper in a research note on Wednesday, July 1st. Evercore set a $30.00 target price on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Citigroup upped their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.40.

Keurig Dr Pepper Trading Up 3.2%

NASDAQ:KDP opened at $31.08 on Wednesday. The company’s 50 day moving average price is $30.95 and its 200-day moving average price is $28.96. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $35.94. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The stock has a market cap of $42.29 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.38 and a beta of 0.40.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 3.0%. Keurig Dr Pepper’s dividend payout ratio is 68.15%.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.