APG Asset Management N.V. Sells 172,300 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

APG Asset Management N.V. lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 12.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,249,035 shares of the company’s stock after selling 172,300 shares during the quarter. APG Asset Management N.V.’s holdings in Keurig Dr Pepper were worth $38,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after acquiring an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Keurig Dr Pepper by 617.1% in the second 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 during the period. Farmers & Merchants Investments Inc. raised its holdings in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after purchasing an additional 301 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at $39,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on KDP. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their target price for the stock from $27.00 to $34.00 in a report on Monday, June 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price objective on shares of Keurig Dr Pepper in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Barclays lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $37.53.

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $37.42 on Friday. The stock’s 50-day simple moving average is $35.84 and its 200 day simple moving average is $33.73. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $38.28. 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 company has a market cap of $50.74 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.86 and a beta of 0.62.

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

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.23 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.48%.

Keurig Dr Pepper 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.