The Manufacturers Life Insurance Company Sells 732 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

The Manufacturers Life Insurance Company decreased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,661 shares of the company’s stock after selling 732 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Keurig Dr Pepper were worth $23,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of KDP. Dimensional Fund Advisors LP lifted its stake in shares of Keurig Dr Pepper by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after acquiring an additional 1,878,597 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Keurig Dr Pepper in the second quarter valued at approximately $37,643,000. Armistice Capital LLC boosted its stake in shares of Keurig Dr Pepper by 186.3% during the second quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after purchasing an additional 966,924 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Keurig Dr Pepper by 5,018.4% in the second quarter. Public Sector Pension Investment Board now owns 839,057 shares of the company’s stock worth $28,025,000 after purchasing an additional 822,664 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Keurig Dr Pepper by 125.5% during the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after buying an additional 767,298 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KDP shares. Barclays decreased their price objective on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup dropped their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report 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, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This trade 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 is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $32.65 on Friday. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm’s 50-day simple moving average is $34.72 and its two-hundred day simple moving average is $34.66. The stock has a market cap of $44.29 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. 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 (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. Analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was 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 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.