Oppenheimer Asset Management Inc. Decreases Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Oppenheimer Asset Management Inc. cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,443 shares of the company’s stock after selling 3,682 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Keurig Dr Pepper were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in Keurig Dr Pepper by 14.6% in the fourth quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock valued at $3,599,652,000 after acquiring an additional 13,738,345 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Keurig Dr Pepper by 107.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Keurig Dr Pepper by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock worth $2,786,075,000 after purchasing an additional 7,825,418 shares during the period. Pathstone Holdings LLC acquired a new stake in shares of Keurig Dr Pepper during the 4th quarter worth about $105,569,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth about $37,643,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $37.50 on Friday. The company has a market cap of $50.83 billion, a P/E ratio of 24.19, a PEG ratio of 2.79 and a beta of 0.62. The firm has a fifty day moving average price of $35.17 and a 200 day moving average price of $33.35. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12 month low of $27.66 and a 12 month high of $37.84.

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

Keurig Dr Pepper Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KDP shares. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their target price for the company from $27.00 to $34.00 in a report on Monday, June 17th. BNP Paribas initiated coverage on Keurig Dr Pepper in a research note on Monday, June 24th. They set a “neutral” rating and a $36.00 price target on the stock. Barclays dropped their price objective on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, Wells Fargo & Company increased their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.50.

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.