Renaissance Technologies LLC Sells 2,674,700 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Renaissance Technologies LLC lessened its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 54.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,210,125 shares of the company’s stock after selling 2,674,700 shares during the quarter. Renaissance Technologies LLC owned 0.16% of Keurig Dr Pepper worth $73,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its stake in Keurig Dr Pepper by 617.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after acquiring an additional 643 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake 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 worth $30,000 after acquiring an additional 301 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $35,000. Finally, Riverview Trust Co bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $39,000. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. BNP Paribas assumed coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They issued a “neutral” rating and a $36.00 target price for the company. Barclays reduced their target price on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. UBS Group boosted their price target on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price target on shares of Keurig Dr Pepper in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $37.35 on Tuesday. The company has a market cap of $50.63 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $37.84. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $34.95 and its two-hundred day simple moving average is $33.26.

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

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. Keurig Dr Pepper’s dividend payout ratio is currently 59.35%.

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.