Lighthouse Investment Partners LLC Sells 635,000 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Lighthouse Investment Partners LLC reduced its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 49.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 650,000 shares of the company’s stock after selling 635,000 shares during the quarter. Keurig Dr Pepper comprises about 0.9% of Lighthouse Investment Partners LLC’s portfolio, making the stock its 14th largest position. Lighthouse Investment Partners LLC’s holdings in Keurig Dr Pepper were worth $21,710,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KDP. Blue Trust Inc. boosted its stake 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 purchasing an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 valued at $27,000 after purchasing an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of 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 purchasing an additional 301 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $35,000. Finally, Riverview Trust Co acquired a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $39,000. 85.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial upgraded shares of 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 research report on Monday, June 17th. UBS Group lifted their target price on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 target price on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Barclays cut their target price on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.53.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $37.53 on Friday. The company has a fifty day moving average of $35.76 and a 200-day moving average of $33.68. The firm has a market capitalization of $50.89 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.86 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $38.28.

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

Keurig Dr Pepper Increases Dividend

The firm 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 55.48%.

About Keurig Dr Pepper

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.