National Bank of Canada FI Sells 1,653,087 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

National Bank of Canada FI cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 70.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 697,523 shares of the company’s stock after selling 1,653,087 shares during the quarter. National Bank of Canada FI owned 0.05% of Keurig Dr Pepper worth $23,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KDP. Capital World Investors grew its stake in shares of Keurig Dr Pepper by 14.6% during the 4th quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock worth $3,599,652,000 after acquiring an additional 13,738,345 shares in the last quarter. Norges Bank acquired a new stake in Keurig Dr Pepper during the 4th quarter valued at $317,979,000. Vanguard Group Inc. lifted its holdings in Keurig Dr Pepper by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after purchasing an additional 7,825,418 shares during the last quarter. Pathstone Holdings LLC acquired a new stake in Keurig Dr Pepper during the 4th quarter valued at $105,569,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Keurig Dr Pepper by 11.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,213,050 shares of the company’s stock valued at $506,899,000 after purchasing an additional 1,518,286 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Up 1.6 %

Shares of KDP stock traded up $0.53 on Thursday, reaching $33.30. 7,499,777 shares of the company were exchanged, compared to its average volume of 9,176,105. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.52 and a beta of 0.62. The company has a 50-day moving average of $33.63 and a 200-day moving average of $32.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.34. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $35.00.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a $0.215 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.86 annualized dividend and a yield of 2.58%. Keurig Dr Pepper’s payout ratio is 55.48%.

Insider Activity at Keurig Dr Pepper

In related news, insider Roger Frederick Johnson sold 31,227 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $33.82, for a total value of $1,056,097.14. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at approximately $3,382,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Keurig Dr Pepper news, insider Patrick Minogue sold 17,293 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $33.59, for a total value of $580,871.87. Following the completion of the sale, the insider now owns 67,103 shares in the company, valued at approximately $2,253,989.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Roger Frederick Johnson sold 31,227 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $33.82, for a total transaction of $1,056,097.14. Following the completion of the sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $3,382,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,520 shares of company stock valued at $2,750,739. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KDP. JPMorgan Chase & Co. dropped their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Barclays dropped their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. UBS Group raised their price objective on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, TD Cowen raised their price objective on Keurig Dr Pepper from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.