Kornitzer Capital Management Inc. KS Cuts Stake in Keurig Dr Pepper, Inc $KDP

Kornitzer Capital Management Inc. KS decreased its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 18.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,977 shares of the company’s stock after selling 29,109 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Keurig Dr Pepper were worth $3,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KDP. NewEdge Advisors LLC raised its holdings in Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock worth $530,000 after acquiring an additional 3,627 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Keurig Dr Pepper by 248.0% in the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock worth $2,389,000 after purchasing an additional 49,741 shares in the last quarter. Woodline Partners LP raised its stake in shares of Keurig Dr Pepper by 49.2% in the first quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock worth $3,452,000 after purchasing an additional 33,258 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Keurig Dr Pepper during the second quarter valued at $328,000. Finally, Park Avenue Securities LLC boosted its position in shares of Keurig Dr Pepper by 27.9% during the second quarter. Park Avenue Securities LLC now owns 9,385 shares of the company’s stock valued at $310,000 after buying an additional 2,045 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Jefferies Financial Group cut shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $32.00 in a research note on Tuesday, December 16th. JPMorgan Chase & Co. dropped their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Barclays boosted their target price on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised their price target on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, TD Cowen restated a “hold” rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 1st. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.87.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $27.59 on Wednesday. The business has a 50-day simple moving average of $28.00 and a two-hundred day simple moving average of $28.90. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The stock has a market cap of $37.48 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.91 and a beta of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio is 79.31%.

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction on Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the vice president owned 54,200 shares in the company, valued at approximately $1,599,984. The trade was a 15.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.