Westpac Banking Corp lowered its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) by 87.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,141 shares of the company’s stock after selling 229,442 shares during the quarter. Westpac Banking Corp’s holdings in Keurig Dr Pepper were worth $1,068,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in Keurig Dr Pepper by 99,740.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 324,915,003 shares of the company’s stock worth $11,586,469,000 after buying an additional 324,589,570 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Keurig Dr Pepper by 1.1% in the 1st quarter. BlackRock Inc. now owns 68,972,718 shares of the company’s stock valued at $2,433,358,000 after purchasing an additional 749,695 shares in the last quarter. FMR LLC increased its holdings in shares of Keurig Dr Pepper by 14.5% in the 1st quarter. FMR LLC now owns 50,195,232 shares of the company’s stock valued at $1,770,888,000 after purchasing an additional 6,338,412 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 49,026,596 shares of the company’s stock valued at $1,858,108,000 after purchasing an additional 3,853,922 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Keurig Dr Pepper by 32.1% in the 1st quarter. Wellington Management Group LLP now owns 39,827,389 shares of the company’s stock valued at $1,405,110,000 after purchasing an additional 9,685,210 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.
Insider Buying and Selling
In related news, insider Matthew Andrew Archambault sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $31.07, for a total value of $497,120.00. Following the sale, the insider now directly owns 800 shares of the company’s stock, valued at $24,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Keurig Dr Pepper news, insider Karin Rotem-Wildeman purchased 7,050 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $29.95 per share, for a total transaction of $211,147.50. Following the completion of the acquisition, the insider now owns 69,448 shares of the company’s stock, valued at approximately $2,079,967.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Andrew Archambault sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $31.07, for a total transaction of $497,120.00. Following the completion of the transaction, the insider now owns 800 shares in the company, valued at approximately $24,856. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 72,050 shares of company stock valued at $2,240,048. Insiders own 0.81% of the company’s stock.
Keurig Dr Pepper Price Performance
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Keurig Dr Pepper had a net margin of 13.16% and a return on equity of 9.76%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts predict that Keurig Dr Pepper Inc. will post 1.78 earnings per share for the current year.
Keurig Dr Pepper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a $0.215 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.20. This represents a $0.86 annualized dividend and a dividend yield of 2.71%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 62.32%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on KDP shares. Jefferies Financial Group started coverage on shares of Keurig Dr Pepper in a report on Monday, November 13th. They issued a “buy” rating and a $39.00 price target for the company. Sanford C. Bernstein cut their price target on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 12th. Barclays increased their price objective on shares of Keurig Dr Pepper from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Citigroup lowered their price objective on shares of Keurig Dr Pepper from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Finally, Morgan Stanley lowered their price objective on shares of Keurig Dr Pepper from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.20.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.
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