Thrivent Financial for Lutherans Sells 113,583 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Thrivent Financial for Lutherans lowered its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 47.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,014 shares of the company's stock after selling 113,583 shares during the quarter. Thrivent Financial for Lutherans' holdings in Keurig Dr Pepper were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Keurig Dr Pepper in the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in Keurig Dr Pepper by 312.1% during the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company's stock worth $26,000 after acquiring an additional 643 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company's stock valued at $27,000 after acquiring an additional 685 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company's stock valued at $30,000 after acquiring an additional 301 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at about $35,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Keurig Dr Pepper Trading Up 1.3 %

KDP stock opened at $32.66 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $44.30 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.52 and a beta of 0.63. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The business's 50 day moving average is $35.20 and its 200-day moving average is $34.72.

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 for the quarter, meeting analysts' consensus estimates of $0.51. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. Equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal 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. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. This is a positive change from Keurig Dr Pepper's previous quarterly dividend of $0.22. Keurig Dr Pepper's payout ratio is currently 55.76%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KDP shares. Wells Fargo & Company cut their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. dropped their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Citigroup reduced their price target on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.36.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

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.