Pacer Advisors Inc. Reduces Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Pacer Advisors Inc. decreased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,657 shares of the company's stock after selling 49,956 shares during the period. Pacer Advisors Inc.'s holdings in Keurig Dr Pepper were worth $6,895,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KDP. The Manufacturers Life Insurance Company increased its stake in Keurig Dr Pepper by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 626,393 shares of the company's stock valued at $20,922,000 after purchasing an additional 9,999 shares in the last quarter. Creative Planning lifted its position in Keurig Dr Pepper by 73.6% in the 2nd quarter. Creative Planning now owns 65,691 shares of the company's stock valued at $2,194,000 after acquiring an additional 27,860 shares in the last quarter. Quarry LP boosted its stake in Keurig Dr Pepper by 96.8% during the 2nd quarter. Quarry LP now owns 2,489 shares of the company's stock valued at $83,000 after purchasing an additional 1,224 shares during the last quarter. Truist Financial Corp boosted its position in shares of Keurig Dr Pepper by 169.3% during the second quarter. Truist Financial Corp now owns 238,251 shares of the company's stock valued at $7,958,000 after buying an additional 149,776 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Keurig Dr Pepper during the second quarter worth about $2,564,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 1.2 %

KDP stock traded up $0.38 during trading on Thursday, hitting $32.24. 5,269,330 shares of the stock traded hands, compared to its average volume of 7,840,817. The stock has a market cap of $43.73 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The firm's 50 day moving average is $32.12 and its two-hundred day moving average is $34.14.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, January 3rd. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 55.76%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays dropped their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada upped their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. TD Cowen dropped their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a report on Tuesday, January 7th. They issued a "neutral" rating and a $35.00 price objective for the company. Finally, Wells Fargo & Company lowered their price target on Keurig Dr Pepper from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.50.

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.