Polar Asset Management Partners Inc. Reduces Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Polar Asset Management Partners Inc. cut its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 26.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,800 shares of the company's stock after selling 50,000 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Keurig Dr Pepper were worth $5,127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper in the 3rd quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its position 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 worth $27,000 after purchasing an additional 685 shares during the last quarter. Blue Trust Inc. increased its position in Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company's stock worth $26,000 after purchasing an additional 643 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company's stock worth $30,000 after purchasing an additional 301 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in Keurig Dr Pepper by 105.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company's stock valued at $39,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KDP. JPMorgan Chase & Co. decreased their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a report 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. TD Cowen increased their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Citigroup reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.36.

Keurig Dr Pepper Stock Up 1.1 %

Shares of Keurig Dr Pepper stock traded up $0.36 during trading hours on Thursday, reaching $32.98. 7,365,829 shares of the company were exchanged, compared to its average volume of 9,247,389. The firm has a market cap of $44.74 billion, a PE ratio of 19.99, a PEG ratio of 2.50 and a beta of 0.61. 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 Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The stock's fifty day moving average is $34.31 and its 200 day moving average is $34.62.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $0.48 EPS. Keurig Dr Pepper's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company 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 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Keurig Dr Pepper's previous quarterly dividend of $0.22. Keurig Dr Pepper's payout ratio is 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 that occurred 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 completion of the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.