Cerity Partners LLC Has $5.35 Million Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cerity Partners LLC increased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,822 shares of the company’s stock after acquiring an additional 17,172 shares during the quarter. Cerity Partners LLC’s holdings in Keurig Dr Pepper were worth $5,353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth $25,000. Blue Trust Inc. increased its holdings in 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. Whittier Trust Co. of Nevada Inc. raised its position 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 buying an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. lifted 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 acquiring an additional 301 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in Keurig Dr Pepper in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KDP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Cowen raised their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Wells Fargo & Company dropped their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup decreased their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $32.58 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The company has a 50 day simple moving average of $34.82 and a two-hundred day simple moving average of $34.67. The company has a market capitalization of $44.19 billion, a PE ratio of 19.75, a P/E/G ratio of 2.54 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. Research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Keurig Dr Pepper Company 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.