Bridgewater Associates LP Decreases Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bridgewater Associates LP decreased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 59.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 457,970 shares of the company's stock after selling 662,922 shares during the quarter. Bridgewater Associates LP's holdings in Keurig Dr Pepper were worth $17,165,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in Keurig Dr Pepper during the first quarter worth approximately $224,000. Janus Henderson Group PLC increased its stake in shares of Keurig Dr Pepper by 41.0% in the 1st quarter. Janus Henderson Group PLC now owns 182,089 shares of the company's stock valued at $5,584,000 after acquiring an additional 52,914 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Keurig Dr Pepper during the 1st quarter valued at $221,000. Wahed Invest LLC boosted its stake in Keurig Dr Pepper by 15.8% during the first quarter. Wahed Invest LLC now owns 18,302 shares of the company's stock worth $561,000 after acquiring an additional 2,496 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Keurig Dr Pepper in the first quarter worth $14,034,000. 85.23% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Down 0.2 %

Shares of KDP traded down $0.07 during trading hours on Thursday, reaching $32.58. 8,454,407 shares of the stock traded hands, compared to its average volume of 9,285,427. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a market cap of $44.19 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.54 and a beta of 0.63. The stock has a fifty day simple moving average of $34.82 and a 200 day simple moving average of $34.67. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) 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 firm 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 company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

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

Wall Street Analyst Weigh In

KDP has been the topic of several research reports. Wells Fargo & Company dropped 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 report on Friday, October 25th. Citigroup dropped their price target on 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. Barclays reduced their price objective on Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. TD Cowen boosted their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.36.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

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.