Hollencrest Capital Management Decreases Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Hollencrest Capital Management reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,541 shares of the company’s stock after selling 1,459 shares during the period. Hollencrest Capital Management’s holdings in Keurig Dr Pepper were worth $1,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. boosted its position in Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after buying an additional 301 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Keurig Dr Pepper by 21.8% during the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after buying an additional 314 shares in the last quarter. Morningstar Investment Management LLC increased its stake in shares of Keurig Dr Pepper by 1.1% in the fourth quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock worth $1,051,000 after buying an additional 328 shares during the last quarter. Mather Group LLC. raised its holdings in Keurig Dr Pepper by 29.0% in the second quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after acquiring an additional 392 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Keurig Dr Pepper by 0.4% during the 4th quarter. US Bancorp DE now owns 121,107 shares of the company’s stock valued at $4,035,000 after acquiring an additional 503 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KDP. Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Monday, June 17th. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. BNP Paribas initiated coverage on Keurig Dr Pepper in a report on Monday, June 24th. They issued a “neutral” rating and a $36.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.50.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $37.50 on Friday. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. Keurig Dr Pepper Inc. has a 1 year low of $27.66 and a 1 year high of $37.84. The business has a fifty day moving average of $35.17 and a 200-day moving average of $33.35.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.23 per share. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 annualized dividend and a yield of 2.45%. Keurig Dr Pepper’s payout ratio is presently 59.35%.

Keurig Dr Pepper Company 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.