Atlantic Edge Private Wealth Management LLC Lowers Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Atlantic Edge Private Wealth Management LLC decreased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,069 shares of the company's stock after selling 18,614 shares during the period. Atlantic Edge Private Wealth Management LLC's holdings in Keurig Dr Pepper were worth $869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KDP. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Keurig Dr Pepper by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock valued at $100,796,000 after buying an additional 242,315 shares during the last quarter. Swedbank AB raised its position in shares of Keurig Dr Pepper by 57.7% during the third quarter. Swedbank AB now owns 733,823 shares of the company's stock valued at $27,504,000 after buying an additional 268,555 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of Keurig Dr Pepper by 0.7% during the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company's stock valued at $122,038,000 after buying an additional 22,657 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Keurig Dr Pepper by 7.1% during the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company's stock valued at $22,806,000 after buying an additional 41,466 shares during the last quarter. Finally, LMR Partners LLP raised its position in shares of Keurig Dr Pepper by 55.5% during the third quarter. LMR Partners LLP now owns 521,000 shares of the company's stock valued at $19,527,000 after buying an additional 186,002 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KDP shares. Royal Bank of Canada lifted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They issued a "neutral" rating and a $35.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. UBS Group reduced their price target on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Barclays reduced their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.50.

Insider Activity

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares of the company's stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Keurig Dr Pepper Trading Down 0.7 %

NASDAQ KDP traded down $0.22 on Friday, hitting $31.66. 4,713,735 shares of the stock were exchanged, compared to its average volume of 8,127,024. The firm has a market capitalization of $42.94 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.16 and a beta of 0.61. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. 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 stock has a fifty day moving average price of $31.89 and a two-hundred day moving average price of $34.03.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

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.