iA Global Asset Management Inc. Sells 34,132 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

iA Global Asset Management Inc. cut its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 19.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,238 shares of the company's stock after selling 34,132 shares during the quarter. iA Global Asset Management Inc.'s holdings in Keurig Dr Pepper were worth $5,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC acquired a new stake in shares of Keurig Dr Pepper during the third quarter valued at about $460,000. Voya Financial Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper during the third quarter valued at about $209,000. Wahed Invest LLC boosted its stake in shares of Keurig Dr Pepper by 10.7% during the third quarter. Wahed Invest LLC now owns 25,746 shares of the company's stock valued at $965,000 after purchasing an additional 2,493 shares in the last quarter. State Street Corp boosted its stake in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company's stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Keurig Dr Pepper by 79.6% in the third quarter. Stifel Financial Corp now owns 358,664 shares of the company's stock worth $13,443,000 after acquiring an additional 158,961 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

KDP stock traded down $0.26 during midday trading on Friday, hitting $32.72. The company's stock had a trading volume of 9,582,685 shares, compared to its average volume of 9,332,638. The stock's 50-day moving average price is $34.22 and its 200 day moving average price is $34.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. 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 cap of $44.38 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.52 and a beta of 0.61.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate 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 analysts' expectations of $3.92 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, September 27th. This is a boost from Keurig Dr Pepper's previous quarterly dividend of $0.22. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business's 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 directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on KDP. Royal Bank of Canada lifted their price objective on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Jefferies Financial Group cut their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company cut their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Barclays lowered their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Finally, Evercore ISI upgraded Keurig Dr Pepper to a "hold" rating in a report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average price target of $38.36.

Keurig Dr Pepper 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.