IVY Lane Capital Management LLC Sells 27,000 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

IVY Lane Capital Management LLC lowered its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,000 shares of the company’s stock after selling 27,000 shares during the quarter. Keurig Dr Pepper comprises approximately 2.7% of IVY Lane Capital Management LLC’s portfolio, making the stock its 11th largest holding. IVY Lane Capital Management LLC’s holdings in Keurig Dr Pepper were worth $4,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of KDP. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock worth $100,796,000 after buying an additional 242,315 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Keurig Dr Pepper by 53.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock valued at $10,400,000 after acquiring an additional 112,819 shares in the last quarter. Franklin Resources Inc. increased its holdings in Keurig Dr Pepper by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after buying an additional 41,466 shares in the last quarter. Swedbank AB lifted its position in Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock valued at $23,994,000 after purchasing an additional 13,179 shares during the period. Finally, RWC Asset Management LLP increased its position in Keurig Dr Pepper by 34.6% during the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock valued at $49,885,000 after acquiring an additional 398,916 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on KDP shares. TD Cowen decreased their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, Morgan Stanley lifted their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.23.

Keurig Dr Pepper Price Performance

KDP stock opened at $33.74 on Friday. The firm has a market cap of $45.78 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The stock has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $33.57. 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 1 year low of $30.12 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at approximately $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela A. Stephens sold 7,350 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the sale, the vice president now owns 74,587 shares in the company, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,397,350 shares of company stock worth $2,756,292,570. Corporate insiders own 1.00% of the company’s stock.

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.