Transcend Capital Advisors LLC Trims Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Transcend Capital Advisors LLC reduced its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,022 shares of the company’s stock after selling 1,515 shares during the period. Transcend Capital Advisors LLC’s holdings in Keurig Dr Pepper were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KDP. FMR LLC grew its position in shares of Keurig Dr Pepper by 9.8% during the 3rd 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 grew its position in shares of Keurig Dr Pepper by 10.9% during the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. National Bank of Canada FI grew its position in shares of Keurig Dr Pepper by 394.3% during the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock valued at $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of Keurig Dr Pepper by 125.5% during the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock valued at $51,679,000 after purchasing an additional 767,298 shares in the last quarter. Finally, Suvretta Capital Management LLC purchased a new position in shares of Keurig Dr Pepper during the 3rd quarter valued at $26,352,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $34.04 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $46.17 billion, a PE ratio of 20.63, a P/E/G ratio of 2.42 and a beta of 0.61. The firm has a fifty day simple moving average of $31.80 and a two-hundred day simple moving average of $33.95. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays cut their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. TD Cowen cut their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 target price for the company. Finally, UBS Group cut their target price on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.50.

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.