Dai ichi Life Insurance Company Ltd Sells 7,930 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Dai ichi Life Insurance Company Ltd reduced its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,980 shares of the company’s stock after selling 7,930 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Keurig Dr Pepper were worth $3,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Keurig Dr Pepper by 5.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after acquiring an additional 730,297 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after acquiring an additional 317,837 shares in the last quarter. Legal & General Group Plc grew its stake in Keurig Dr Pepper by 6.5% in the second quarter. Legal & General Group Plc now owns 9,971,838 shares of the company’s stock valued at $333,057,000 after purchasing an additional 609,857 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Keurig Dr Pepper by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company’s stock valued at $238,163,000 after purchasing an additional 171,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Keurig Dr Pepper by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after purchasing an additional 1,878,597 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on KDP shares. TD Cowen lifted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Jefferies Financial Group cut their target price on 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. Royal Bank of Canada lifted their target price 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. Wells Fargo & Company cut their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Barclays cut their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Trading Down 0.6 %

Keurig Dr Pepper stock opened at $32.65 on Wednesday. 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 52 week low of $28.61 and a 52 week high of $38.28. The company has a market capitalization of $44.29 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. The stock has a 50-day moving average price of $35.01 and a 200 day moving average price of $34.70.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.23 per share. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date 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 payout ratio is 55.76%.

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.