Pacer Advisors Inc. Cuts Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Pacer Advisors Inc. reduced its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.7% in the second quarter, Holdings Channel.com reports. The firm owned 214,212 shares of the company’s stock after selling 5,929 shares during the quarter. Pacer Advisors Inc.’s holdings in Keurig Dr Pepper were worth $7,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KDP. Corient Private Wealth LLC lifted its stake in shares of Keurig Dr Pepper by 0.5% in the 4th quarter. Corient Private Wealth LLC now owns 119,643 shares of the company’s stock valued at $3,986,000 after acquiring an additional 641 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Keurig Dr Pepper by 608.0% in the 4th quarter. Franklin Resources Inc. now owns 813,578 shares of the company’s stock valued at $27,108,000 after acquiring an additional 698,665 shares during the last quarter. US Bancorp DE lifted its stake in shares of Keurig Dr Pepper by 0.4% in the 4th quarter. US Bancorp DE now owns 121,107 shares of the company’s stock valued at $4,035,000 after acquiring an additional 503 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at about $239,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Keurig Dr Pepper by 1.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 107,237 shares of the company’s stock valued at $3,411,000 after acquiring an additional 1,620 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $38.01 on Tuesday. 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 company has a market capitalization of $51.53 billion, a P/E ratio of 24.52, a PEG ratio of 2.79 and a beta of 0.62. The stock’s 50 day moving average is $35.37 and its 200 day moving average is $33.50. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $38.06.

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 company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.42%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 59.35%.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of recent research reports. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 price target on shares of Keurig Dr Pepper in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. BNP Paribas started coverage on Keurig Dr Pepper in a research report on Monday, June 24th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Barclays lowered their price target 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.20.

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.