Sandia Investment Management LP Reduces Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Sandia Investment Management LP reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 41.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,500 shares of the company’s stock after selling 12,500 shares during the period. Sandia Investment Management LP’s holdings in Keurig Dr Pepper were worth $584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 valued at $27,000 after purchasing an additional 685 shares during the period. Blue Trust Inc. grew 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 buying an additional 643 shares during the period. Farmers & Merchants Investments Inc. increased its holdings 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 worth $30,000 after buying an additional 301 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Keurig Dr Pepper in the second quarter valued at approximately $35,000. Finally, Riverview Trust Co purchased a new position in Keurig Dr Pepper in the second quarter worth approximately $39,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $37.83 on Wednesday. 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 $51.28 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. The stock’s 50-day moving average is $35.58 and its two-hundred day moving average is $33.62. Keurig Dr Pepper Inc. has a 1-year low of $27.66 and a 1-year 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, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change 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 presently 59.35%.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research analyst reports. UBS Group lifted their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $43.00 in a research report on Monday. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price target on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus target price 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.