IVY Lane Capital Management LLC Lowers Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

IVY Lane Capital Management LLC decreased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,000 shares of the company's stock after selling 27,000 shares during the quarter. Keurig Dr Pepper makes up 2.7% of IVY Lane Capital Management LLC's portfolio, making the stock its 11th biggest holding. IVY Lane Capital Management LLC's holdings in Keurig Dr Pepper were worth $4,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Keurig Dr Pepper by 8.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock valued at $100,796,000 after acquiring an additional 242,315 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock worth $10,400,000 after buying an additional 112,819 shares during the period. Franklin Resources Inc. grew its stake in shares of Keurig Dr Pepper by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company's stock valued at $22,806,000 after acquiring an additional 41,466 shares during the period. Swedbank AB increased its holdings in Keurig Dr Pepper by 1.8% in the 4th quarter. Swedbank AB now owns 747,002 shares of the company's stock worth $23,994,000 after acquiring an additional 13,179 shares in the last quarter. Finally, RWC Asset Management LLP increased its holdings in Keurig Dr Pepper by 34.6% in the 4th quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock worth $49,885,000 after acquiring an additional 398,916 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

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Keurig Dr Pepper Price Performance

KDP stock traded down $0.52 during trading on Friday, hitting $33.74. 17,025,447 shares of the company's stock traded hands, compared to its average volume of 9,618,860. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28. The stock has a market capitalization of $45.78 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.62. The business has a fifty day simple moving average of $32.72 and a 200 day simple moving average of $33.52. 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 issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, research analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.73%. Keurig Dr Pepper's dividend payout ratio is presently 87.62%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KDP shares. Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. They issued a "neutral" rating and a $35.00 target price for the company. Wells Fargo & Company reissued an "overweight" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. UBS Group reaffirmed a "buy" rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.23.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $33.39, for a total value of $400,680.00. Following the completion of the sale, the insider now directly owns 178,511 shares of the company's stock, valued at $5,960,482.29. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bevco B.V. Jab bought 3,619,600 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the transaction, the insider now owns 218,063,479 shares of the company's stock, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 84,397,350 shares of company stock worth $2,756,292,570. 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.