MetLife Investment Management LLC Sells 3,620 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

MetLife Investment Management LLC lowered its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 275,082 shares of the company’s stock after selling 3,620 shares during the quarter. MetLife Investment Management LLC’s holdings in Keurig Dr Pepper were worth $10,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bayesian Capital Management LP bought a new stake in Keurig Dr Pepper during the first quarter worth about $224,000. Janus Henderson Group PLC lifted its stake in Keurig Dr Pepper by 41.0% during the first quarter. Janus Henderson Group PLC now owns 182,089 shares of the company’s stock worth $5,584,000 after purchasing an additional 52,914 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper in the 1st quarter valued at $221,000. Swedbank AB bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at $14,034,000. Finally, Cetera Investment Advisers raised its holdings in shares of Keurig Dr Pepper by 127.7% during the 1st quarter. Cetera Investment Advisers now owns 221,134 shares of the company’s stock worth $6,782,000 after buying an additional 124,022 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $32.58 on Friday. 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 one year low of $28.61 and a one year high of $38.28. The business’s 50 day simple moving average is $34.82 and its 200 day simple moving average is $34.67. The stock has a market capitalization of $44.19 billion, a PE ratio of 19.75, a PEG ratio of 2.54 and a beta of 0.63.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. Keurig Dr Pepper’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.23 dividend. The ex-dividend date was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 55.76%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KDP shares. Royal Bank of Canada raised their price objective on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group reduced their price target on shares of 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. Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company cut their target price on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Barclays lowered their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.36.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

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.