Harvey Investment Co. LLC Decreases Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Harvey Investment Co. LLC cut its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 53.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,404 shares of the company’s stock after selling 139,698 shares during the quarter. Harvey Investment Co. LLC’s holdings in Keurig Dr Pepper were worth $4,513,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 valued at $27,000 after buying an additional 685 shares during the last quarter. Blue Trust Inc. increased its position in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after purchasing an additional 643 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Keurig Dr Pepper by 105.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock valued at $39,000 after purchasing an additional 530 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Keurig Dr Pepper during the 2nd quarter worth approximately $35,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Citigroup upgraded shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $43.00 in a research note on Monday, September 23rd. Finally, TD Cowen boosted their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.21.

Keurig Dr Pepper Stock Down 3.5 %

KDP stock opened at $35.42 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $36.72 and its 200 day moving average price is $34.58. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a market cap of $48.01 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.73 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. Keurig Dr Pepper’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, research analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is 59.35%.

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.