Prentice Capital Management LP Lowers Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Prentice Capital Management LP lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 65.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,018 shares of the company’s stock after selling 65,000 shares during the period. Keurig Dr Pepper comprises about 2.9% of Prentice Capital Management LP’s investment portfolio, making the stock its 11th biggest position. Prentice Capital Management LP’s holdings in Keurig Dr Pepper were worth $1,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KDP. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its stake in Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after acquiring an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Keurig Dr Pepper during the second quarter worth about $35,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

KDP has been the subject of several recent research reports. Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company lowered their price target 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. Barclays cut their price objective 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. JPMorgan Chase & Co. dropped their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Jefferies Financial Group reduced their price target on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 25th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.36.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $32.38 on Wednesday. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a market cap of $43.92 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. The company has a fifty day simple moving average of $34.50 and a 200-day simple moving average of $34.65.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. Equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.84%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper 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 value 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 approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

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.