Zions Bancorporation N.A. Sells 11,863 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Zions Bancorporation N.A. lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 51.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,205 shares of the company’s stock after selling 11,863 shares during the period. Zions Bancorporation N.A.’s holdings in Keurig Dr Pepper were worth $374,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KDP. Commonwealth Equity Services LLC increased its stake in shares of Keurig Dr Pepper by 254.6% during the first quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after buying an additional 68,840 shares during the period. Franklin Resources Inc. lifted its position in shares of Keurig Dr Pepper by 608.0% in the 4th quarter. Franklin Resources Inc. now owns 813,578 shares of the company’s stock worth $27,108,000 after purchasing an additional 698,665 shares during the period. Twin Tree Management LP bought a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at about $512,000. Confluence Investment Management LLC purchased a new position in shares of Keurig Dr Pepper during the first quarter valued at about $11,375,000. Finally, PBCay One RSC Ltd purchased a new position in shares of Keurig Dr Pepper during the fourth quarter valued at about $1,543,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Up 1.5 %

Shares of Keurig Dr Pepper stock opened at $37.61 on Friday. The company has a 50-day simple moving average of $34.85 and a two-hundred day simple moving average of $33.19. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $37.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The stock has a market capitalization of $51.00 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.23 per share. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KDP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company increased their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. lowered their price objective on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, UBS Group upped their target price on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.50.

About Keurig Dr Pepper

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.