Bank of New York Mellon Corp Sells 460,220 Shares of Keurig Dr Pepper, Inc $KDP

Bank of New York Mellon Corp cut its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,466,924 shares of the company’s stock after selling 460,220 shares during the quarter. Bank of New York Mellon Corp owned 0.55% of Keurig Dr Pepper worth $209,149,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Keurig Dr Pepper by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,256,874 shares of the company’s stock worth $203,265,000 after buying an additional 106,757 shares in the last quarter. Westpac Banking Corp boosted its position in Keurig Dr Pepper by 21.6% during the fourth quarter. Westpac Banking Corp now owns 16,677 shares of the company’s stock valued at $467,000 after purchasing an additional 2,967 shares during the last quarter. Natixis Advisors LLC boosted its position in Keurig Dr Pepper by 118.8% during the fourth quarter. Natixis Advisors LLC now owns 1,446,741 shares of the company’s stock valued at $40,523,000 after purchasing an additional 785,510 shares during the last quarter. AXQ Capital LP boosted its position in Keurig Dr Pepper by 45.1% during the fourth quarter. AXQ Capital LP now owns 57,989 shares of the company’s stock valued at $1,624,000 after purchasing an additional 18,030 shares during the last quarter. Finally, Root Financial Partners LLC boosted its position in Keurig Dr Pepper by 86.4% during the fourth quarter. Root Financial Partners LLC now owns 1,907 shares of the company’s stock valued at $53,000 after purchasing an additional 884 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KDP shares. Deutsche Bank Aktiengesellschaft reduced their price target on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, March 30th. BNP Paribas Exane raised Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a research report on Wednesday, April 22nd. UBS Group increased their price target on Keurig Dr Pepper from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Barclays increased their price target on Keurig Dr Pepper from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Finally, Wells Fargo & Company reduced their price target on Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.57.

Keurig Dr Pepper Stock Performance

KDP opened at $30.53 on Friday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $35.94. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.37 and a beta of 0.41. The business has a 50 day moving average of $28.00 and a 200-day moving average of $28.10. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 68.15%.

About Keurig Dr Pepper

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.