Cinctive Capital Management LP Sells 52,824 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cinctive Capital Management LP reduced its position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 68.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,358 shares of the company's stock after selling 52,824 shares during the period. Cinctive Capital Management LP's holdings in Keurig Dr Pepper were worth $913,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KDP. FMR LLC boosted its holdings in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company's stock valued at $3,829,824,000 after acquiring an additional 9,105,164 shares during the period. Allspring Global Investments Holdings LLC raised its position in Keurig Dr Pepper by 5.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company's stock worth $574,146,000 after acquiring an additional 730,297 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Keurig Dr Pepper by 2.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company's stock worth $445,648,000 after buying an additional 317,837 shares during the period. Legal & General Group Plc raised its holdings in Keurig Dr Pepper by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company's stock worth $333,057,000 after buying an additional 609,857 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Keurig Dr Pepper by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company's stock valued at $238,163,000 after acquiring an additional 171,036 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Up 0.7 %

Keurig Dr Pepper stock traded up $0.24 during midday trading on Wednesday, reaching $32.62. The stock had a trading volume of 7,851,487 shares, compared to its average volume of 9,255,430. The firm's fifty day simple moving average is $34.40 and its 200-day simple moving average is $34.63. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The stock has a market capitalization of $44.25 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. 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 - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $0.48 EPS. Keurig Dr Pepper's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS 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. 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%. 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. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 55.76%.

Insider Buying and Selling at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 214,443,879 shares of the company's stock, valued at approximately $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KDP. Deutsche Bank Aktiengesellschaft lifted 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. Citigroup lowered their price target 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. Royal Bank of Canada boosted their price target 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. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Jefferies Financial Group lowered their price target 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.36.

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.