Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Coho Partners Ltd.

Coho Partners Ltd. cut its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,138,536 shares of the company’s stock after selling 309,888 shares during the quarter. Keurig Dr Pepper makes up approximately 3.2% of Coho Partners Ltd.’s portfolio, making the stock its 16th biggest position. Coho Partners Ltd. owned 0.16% of Keurig Dr Pepper worth $68,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KDP. FMR LLC boosted its holdings in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares in the last quarter. State Street Corp raised its stake in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Keurig Dr Pepper by 394.3% during the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares during the last quarter. King Luther Capital Management Corp raised its position in Keurig Dr Pepper by 125.5% in the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock worth $51,679,000 after acquiring an additional 767,298 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in 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 worth $574,146,000 after acquiring an additional 730,297 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the transaction, the insider now directly owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KDP shares. Citigroup dropped their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Barclays decreased their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Piper Sandler began coverage on Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, UBS Group decreased their price target on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $31.87 on Friday. The company has a market cap of $43.23 billion, a P/E ratio of 19.32, a PEG ratio of 2.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The business’s 50-day simple moving average is $31.92 and its 200 day simple moving average is $34.04.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.89%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

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.