Anchor Capital Advisors LLC Sells 237,267 Shares of Keurig Dr Pepper, Inc $KDP

Anchor Capital Advisors LLC cut its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 17.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,140,560 shares of the company’s stock after selling 237,267 shares during the period. Anchor Capital Advisors LLC’s holdings in Keurig Dr Pepper were worth $29,096,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KDP. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 9.8% in the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after purchasing an additional 14,244,768 shares during the last quarter. State Street Corp grew its stake in shares of Keurig Dr Pepper by 11.2% during the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after buying an additional 6,412,494 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Keurig Dr Pepper by 43.2% in the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after buying an additional 9,494,503 shares during the period. Geode Capital Management LLC lifted its stake in shares of Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock worth $994,275,000 after acquiring an additional 3,595,579 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $568,525,000. 93.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction on Friday, December 12th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the vice president directly owned 54,200 shares in the company, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Up 2.0%

NASDAQ KDP opened at $27.95 on Wednesday. Keurig Dr Pepper, Inc has a one year low of $25.03 and a one year high of $36.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. The company has a market capitalization of $37.97 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.89 and a beta of 0.34. The company’s 50-day simple moving average is $27.94 and its two-hundred day simple moving average is $29.11.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Monday, October 27th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, January 2nd. Keurig Dr Pepper’s dividend payout ratio (DPR) is 79.31%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. TD Cowen cut their price objective on Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Friday, October 31st. Jefferies Financial Group cut shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $32.00 in a report on Tuesday, December 16th. Cowen reiterated a “hold” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Keurig Dr Pepper currently has an average rating of “Hold” and a consensus price target of $34.87.

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.