Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Choreo LLC

Choreo LLC trimmed its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,293 shares of the company’s stock after selling 713 shares during the period. Choreo LLC’s holdings in Keurig Dr Pepper were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in KDP. FMR LLC lifted its position in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after acquiring an additional 9,105,164 shares during the last quarter. State Street Corp increased its position in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Keurig Dr Pepper by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock valued at $841,886,000 after purchasing an additional 591,316 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Keurig Dr Pepper by 5.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after purchasing an additional 730,297 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Keurig Dr Pepper by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,007,549 shares of the company’s stock worth $225,163,000 after buying an additional 150,202 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KDP. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company decreased their price objective on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays cut their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, TD Cowen lowered their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Keurig Dr Pepper Price Performance

KDP opened at $31.67 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The company has a 50-day moving average of $31.94 and a 200-day moving average of $34.06. The company has a market capitalization of $42.96 billion, a P/E ratio of 19.19, a PEG ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the transaction, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper 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.