Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,926 shares of the company's stock after selling 26,323 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Keurig Dr Pepper were worth $6,781,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company's stock valued at $3,829,824,000 after buying an additional 9,105,164 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Keurig Dr Pepper by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company's stock valued at $212,901,000 after buying an additional 1,878,597 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at about $37,643,000. Armistice Capital LLC grew its stake in shares of Keurig Dr Pepper by 186.3% in the second quarter. Armistice Capital LLC now owns 1,486,063 shares of the company's stock valued at $49,635,000 after buying an additional 966,924 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake 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 valued at $28,025,000 after buying an additional 822,664 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP traded down $0.16 during trading hours on Tuesday, reaching $32.38. 7,430,544 shares of the stock were exchanged, compared to its average volume of 9,261,455. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a 50 day simple moving average of $34.50 and a 200-day simple moving average of $34.65. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The stock has a market capitalization of $43.92 billion, a P/E ratio of 19.62, a P/E/G ratio of 2.51 and a beta of 0.61.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business 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 business's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. As a group, sell-side analysts forecast 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. Investors of record on Friday, September 27th were issued a $0.23 dividend. 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. This represents a $0.92 annualized dividend and a dividend yield of 2.84%. Keurig Dr Pepper's dividend payout ratio (DPR) is 55.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KDP shares. Royal Bank of Canada increased their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Barclays lowered 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. Citigroup lowered their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Jefferies Financial Group lowered their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.36.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares of the company's stock, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company's stock.

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.