Arrowstreet Capital Limited Partnership Sells 1,938,566 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Arrowstreet Capital Limited Partnership decreased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,417,136 shares of the company's stock after selling 1,938,566 shares during the period. Arrowstreet Capital Limited Partnership owned 0.40% of Keurig Dr Pepper worth $173,998,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC grew its stake in shares of Keurig Dr Pepper by 1.2% during the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company's stock worth $893,000 after acquiring an additional 342 shares during the period. Barden Capital Management Inc. lifted its holdings in Keurig Dr Pepper by 0.9% during the fourth quarter. Barden Capital Management Inc. now owns 39,836 shares of the company's stock valued at $1,280,000 after purchasing an additional 353 shares during the last quarter. Custom Index Systems LLC boosted its position in Keurig Dr Pepper by 5.3% during the fourth quarter. Custom Index Systems LLC now owns 7,109 shares of the company's stock worth $228,000 after purchasing an additional 357 shares during the period. First Hawaiian Bank increased its stake in shares of Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company's stock worth $250,000 after purchasing an additional 384 shares in the last quarter. Finally, New Age Alpha Advisors LLC increased its stake in shares of Keurig Dr Pepper by 82.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company's stock worth $28,000 after purchasing an additional 389 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on KDP shares. JPMorgan Chase & Co. raised their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Morgan Stanley raised Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $38.00 to $40.00 in a report on Tuesday. Barclays set a $39.00 price objective on Keurig Dr Pepper in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, TD Cowen reduced their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the completion of the sale, the chairman now directly owns 3,237,066 shares of the company's stock, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Angela A. Stephens sold 7,350 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,409,350 shares of company stock worth $2,756,709,930. 1.00% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Price Performance

KDP traded down $1.82 on Friday, reaching $33.81. The company had a trading volume of 16,131,885 shares, compared to its average volume of 9,742,775. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28. The company has a market cap of $45.87 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The business has a 50 day simple moving average of $33.05 and a 200 day simple moving average of $33.48.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the company posted $0.55 EPS. The business's quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 87.62%.

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.