Keurig Dr Pepper Inc. (NASDAQ:KDP) Position Trimmed by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,136 shares of the company’s stock after selling 775 shares during the quarter. Hartford Investment Management Co.’s holdings in Keurig Dr Pepper were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 9.4% in 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in Keurig Dr Pepper by 107.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock worth $725,487,000 after buying an additional 12,259,471 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Keurig Dr Pepper by 5.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after buying an additional 730,297 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Keurig Dr Pepper by 2.4% during 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 acquiring an additional 317,837 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Keurig Dr Pepper by 6.5% in the second quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock valued at $333,057,000 after acquiring an additional 609,857 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on KDP shares. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $41.00 target price on shares of Keurig Dr Pepper in a report on Friday, July 26th. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Barclays boosted their target price on Keurig Dr Pepper from $37.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.21.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $34.94 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The company has a market cap of $47.36 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.73 and a beta of 0.62. The firm has a fifty day moving average price of $36.75 and a two-hundred day moving average price of $34.59. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 59.35%.

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.