Allspring Global Investments Holdings LLC Trims Stake in Keurig Dr Pepper, Inc $KDP

Allspring Global Investments Holdings LLC lessened its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,174,821 shares of the company’s stock after selling 358,410 shares during the period. Keurig Dr Pepper accounts for approximately 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 29th largest holding. Allspring Global Investments Holdings LLC’s holdings in Keurig Dr Pepper were worth $338,461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in Keurig Dr Pepper by 290.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock valued at $1,475,000 after purchasing an additional 39,156 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Keurig Dr Pepper during the third quarter worth $2,551,000. PNC Financial Services Group Inc. boosted its position in shares of Keurig Dr Pepper by 47.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after buying an additional 57,797 shares during the period. Merit Financial Group LLC boosted its position in shares of Keurig Dr Pepper by 194.6% during the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock worth $2,438,000 after buying an additional 57,500 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock valued at $43,489,000 after buying an additional 47,184 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Up 3.6%

KDP stock opened at $31.38 on Friday. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The stock has a market capitalization of $42.69 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The company has a fifty day moving average of $30.75 and a 200-day moving average of $28.82.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, analysts expect that Keurig Dr Pepper, Inc will post 2.29 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Analysts Set New Price Targets

Several research firms recently issued reports on KDP. UBS Group boosted their price objective on Keurig Dr Pepper from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. BNP Paribas Exane upgraded Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised shares of Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company set a $37.00 price target on shares of Keurig Dr Pepper in a research report on Wednesday, July 1st. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.07.

About Keurig Dr Pepper

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.