Envestnet Asset Management Inc. Trims Holdings in Keurig Dr Pepper, Inc $KDP

Envestnet Asset Management Inc. decreased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 43.1% in the third quarter, HoldingsChannel reports. The firm owned 1,726,650 shares of the company’s stock after selling 1,308,929 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Keurig Dr Pepper were worth $44,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 9.8% during the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after acquiring an additional 14,244,768 shares during the period. State Street Corp increased its stake in shares of Keurig Dr Pepper by 11.2% in the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after acquiring an additional 6,412,494 shares during the period. Invesco Ltd. raised its holdings in shares of Keurig Dr Pepper by 43.2% during the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the last quarter. Geode Capital Management LLC lifted its position in Keurig Dr Pepper by 13.5% during the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares during the period. Finally, Norges Bank purchased a new stake in Keurig Dr Pepper in the second quarter valued at $568,525,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 10,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the vice president owned 54,200 shares in the company, valued at $1,599,984. This represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on KDP shares. UBS Group reiterated a “buy” rating and set a $35.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Piper Sandler raised their target price on Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. reduced their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company upped their price objective on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Wednesday, January 28th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.87.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $28.71 on Wednesday. The stock has a market capitalization of $39.00 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.96 and a beta of 0.34. The company’s fifty day moving average price is $28.06 and its 200 day moving average price is $28.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.2%. Keurig Dr Pepper’s payout ratio is currently 79.31%.

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.