Harvey Investment Co. LLC Lowers Stake in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Harvey Investment Co. LLC cut its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 45.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,584 shares of the company’s stock after selling 33,315 shares during the quarter. Harvey Investment Co. LLC’s holdings in Keurig Dr Pepper were worth $1,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KDP. ST Germain D J Co. Inc. purchased a new stake in Keurig Dr Pepper in the first quarter valued at approximately $27,000. New Age Alpha Advisors LLC grew its holdings in Keurig Dr Pepper by 82.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares during the period. Whipplewood Advisors LLC purchased a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $37,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $42,000. Finally, Global Trust Asset Management LLC purchased a new stake in Keurig Dr Pepper in the first quarter valued at approximately $48,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total transaction of $496,480.00. Following the transaction, the vice president now directly owns 62,411 shares in the company, valued at $2,136,952.64. This represents a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total transaction of $395,040.00. Following the transaction, the insider now owns 118,511 shares in the company, valued at $3,901,382.12. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 686,500 shares of company stock worth $23,190,720. 0.40% of the stock is currently owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $33.58 on Friday. The company has a market capitalization of $45.61 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48. The firm has a fifty day simple moving average of $33.76 and a 200-day simple moving average of $33.10. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. Keurig Dr Pepper, Inc has a twelve month low of $30.12 and a twelve month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities research analysts anticipate 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, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 83.64%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the company from $36.00 to $42.00 in a report on Friday, April 25th. UBS Group boosted their target price on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Argus initiated coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $40.00 in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.71.

About Keurig Dr Pepper

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.