Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by abrdn plc

abrdn plc cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 28.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341,471 shares of the company's stock after selling 530,919 shares during the period. abrdn plc owned approximately 0.10% of Keurig Dr Pepper worth $50,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company's stock worth $26,000 after acquiring an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company's stock worth $27,000 after acquiring an additional 685 shares during the period. Farmers & Merchants Investments Inc. grew its position in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company's stock worth $30,000 after acquiring an additional 301 shares during the period. Hantz Financial Services Inc. purchased a new position in Keurig Dr Pepper in the second quarter worth approximately $35,000. Finally, Riverview Trust Co purchased a new position in Keurig Dr Pepper in the second quarter worth approximately $39,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Down 0.1 %

NASDAQ:KDP traded down $0.04 during midday trading on Thursday, reaching $32.95. The company had a trading volume of 17,641,053 shares, compared to its average volume of 9,149,896. The firm has a market capitalization of $44.70 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.73 and a beta of 0.62. The stock's fifty day simple moving average is $36.53 and its 200-day simple moving average is $34.69. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released 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. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. Keurig Dr Pepper's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. On average, sell-side 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 declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. This is an increase from Keurig Dr Pepper's previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper's payout ratio is 55.76%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated 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 $7,001,592,649.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KDP. Evercore ISI upgraded Keurig Dr Pepper to a "hold" rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Royal Bank of Canada upped their price target 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 decreased their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.36.

Keurig Dr Pepper Company 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.