Itau Unibanco Holding S.A. Decreases Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Itau Unibanco Holding S.A. cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,058 shares of the company’s stock after selling 21,642 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Keurig Dr Pepper were worth $2,407,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new stake in Keurig Dr Pepper in the second quarter valued at approximately $457,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after purchasing an additional 317,837 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Keurig Dr Pepper during the 2nd quarter valued at $1,616,000. Asset Management Group Inc. purchased a new stake in Keurig Dr Pepper during the 2nd quarter worth $203,000. Finally, Summit Trail Advisors LLC lifted its holdings in Keurig Dr Pepper by 42.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 18,639 shares of the company’s stock worth $626,000 after buying an additional 5,514 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KDP. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Truist Financial raised 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 report on Monday, June 17th. UBS Group increased their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Barclays dropped their price target on shares of 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, JPMorgan Chase & Co. reduced their price objective on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $37.46 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $35.37 and a 200 day simple moving average of $33.44. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $37.84. The company has a market cap of $50.78 billion, a PE ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results 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 return on equity of 10.32% and a net margin of 14.47%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company 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. The ex-dividend date is Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. Keurig Dr Pepper’s payout ratio is 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.