Canada Pension Plan Investment Board Sells 512,235 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Canada Pension Plan Investment Board reduced its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,793,884 shares of the company’s stock after selling 512,235 shares during the period. Canada Pension Plan Investment Board owned 0.21% of Keurig Dr Pepper worth $89,740,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Townsquare Capital LLC grew its stake in Keurig Dr Pepper by 2.1% in the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company’s stock valued at $505,000 after purchasing an additional 327 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in Keurig Dr Pepper by 1.2% during the fourth quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after buying an additional 342 shares during the last quarter. Barden Capital Management Inc. lifted its stake in Keurig Dr Pepper by 0.9% in the fourth quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock valued at $1,280,000 after acquiring an additional 353 shares during the last quarter. Custom Index Systems LLC grew its position in shares of Keurig Dr Pepper by 5.3% in the 4th quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock valued at $228,000 after acquiring an additional 357 shares during the period. Finally, First Hawaiian Bank raised its holdings in shares of Keurig Dr Pepper by 5.2% in the 4th quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock valued at $250,000 after purchasing an additional 384 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 7,350 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the completion of the transaction, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. This represents a 8.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $34.05, for a total transaction of $408,600.00. Following the completion of the sale, the insider now owns 187,537 shares in the company, valued at $6,385,634.85. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,409,350 shares of company stock worth $2,756,709,930 in the last ninety days. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Trading Up 0.9 %

Shares of Keurig Dr Pepper stock opened at $35.41 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.42 and a beta of 0.54. The firm’s 50-day moving average price is $33.74 and its two-hundred day moving average price is $33.29.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.60%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 87.62%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KDP shares. Morgan Stanley upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Piper Sandler upgraded shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. UBS Group increased their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Finally, Argus initiated coverage on Keurig Dr Pepper in a research report on Wednesday. They issued a “buy” rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.21.

Keurig Dr Pepper 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.