Bridgewater Associates LP Sells 662,922 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bridgewater Associates LP trimmed its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 59.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 457,970 shares of the company’s stock after selling 662,922 shares during the period. Bridgewater Associates LP’s holdings in Keurig Dr Pepper were worth $17,165,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KDP. Swedbank AB grew its holdings in shares of Keurig Dr Pepper by 57.7% in the 3rd quarter. Swedbank AB now owns 733,823 shares of the company’s stock worth $27,504,000 after purchasing an additional 268,555 shares during the last quarter. Pathstone Holdings LLC grew its stake in Keurig Dr Pepper by 0.7% during the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock worth $122,038,000 after buying an additional 22,657 shares during the last quarter. LMR Partners LLP increased its holdings in shares of Keurig Dr Pepper by 55.5% during the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after buying an additional 186,002 shares in the last quarter. Curi RMB Capital LLC raised its stake in shares of Keurig Dr Pepper by 9.4% in the third quarter. Curi RMB Capital LLC now owns 628,042 shares of the company’s stock valued at $23,539,000 after acquiring an additional 54,167 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in shares of Keurig Dr Pepper by 5.9% in the 2nd quarter. TCW Group Inc. now owns 391,379 shares of the company’s stock worth $13,072,000 after acquiring an additional 21,726 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company dropped their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen raised their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Citigroup lowered their price target on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Stock Down 0.2 %

Shares of KDP stock opened at $32.58 on Thursday. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $34.92 and a 200-day moving average of $34.68. The company has a market capitalization of $44.19 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.54 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

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.