DoubleLine ETF Adviser LP Sells 3,573 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

DoubleLine ETF Adviser LP decreased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,215 shares of the company’s stock after selling 3,573 shares during the period. DoubleLine ETF Adviser LP’s holdings in Keurig Dr Pepper were worth $1,410,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KDP. Blue Trust Inc. grew its position in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after acquiring an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after purchasing an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at about $35,000. Finally, Riverview Trust Co bought a new stake in Keurig Dr Pepper in the 2nd quarter worth approximately $39,000. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KDP shares. BNP Paribas began coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They issued a “neutral” rating and a $36.00 price objective for the company. Citigroup upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $43.00 in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and raised their price target for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Finally, Barclays lowered their price objective on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and an average target price of $37.20.

Keurig Dr Pepper Stock Down 0.7 %

Shares of NASDAQ KDP opened at $37.58 on Thursday. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $38.28. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.86 and a beta of 0.62. The stock has a 50 day moving average price of $35.67 and a 200 day moving average price of $33.65. 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 (NASDAQ:KDP) last posted its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $3.92 billion for 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 revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. Sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

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

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.