Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,767 shares of the company’s stock after selling 5,542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Keurig Dr Pepper were worth $19,219,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB grew its stake in shares of Keurig Dr Pepper by 57.7% in the third quarter. Swedbank AB now owns 733,823 shares of the company’s stock worth $27,504,000 after purchasing an additional 268,555 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Keurig Dr Pepper by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock worth $122,038,000 after buying an additional 22,657 shares during the last quarter. LMR Partners LLP grew its position in shares of Keurig Dr Pepper by 55.5% in the 3rd quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after buying an additional 186,002 shares during the last quarter. Curi RMB Capital LLC increased its stake in shares of Keurig Dr Pepper by 9.4% during the third quarter. Curi RMB Capital LLC now owns 628,042 shares of the company’s stock valued at $23,539,000 after buying an additional 54,167 shares during the period. Finally, TCW Group Inc. raised its holdings in shares of Keurig Dr Pepper by 5.9% during the second quarter. TCW Group Inc. now owns 391,379 shares of the company’s stock valued at $13,072,000 after acquiring an additional 21,726 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KDP. Wells Fargo & Company reduced their price objective 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. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group cut their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. TD Cowen increased their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Finally, Citigroup dropped their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Transactions at Keurig Dr Pepper

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 that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock opened at $32.65 on Friday. 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 $34.72 and its 200 day moving average is $34.66. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.52 and a beta of 0.63. 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 (NASDAQ:KDP) last issued its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.23 dividend. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

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.