Truist Financial Corp Lowers Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Truist Financial Corp lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 43.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 81,953 shares of the company’s stock after selling 63,844 shares during the period. Truist Financial Corp’s holdings in Keurig Dr Pepper were worth $2,731,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. DAVENPORT & Co LLC raised its position in shares of Keurig Dr Pepper by 24.3% in the fourth quarter. DAVENPORT & Co LLC now owns 2,604,968 shares of the company’s stock worth $86,820,000 after acquiring an additional 509,393 shares during the period. Arizona State Retirement System grew its holdings in Keurig Dr Pepper by 14.2% in the fourth quarter. Arizona State Retirement System now owns 294,833 shares of the company’s stock valued at $9,824,000 after purchasing an additional 36,560 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Keurig Dr Pepper by 43.8% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,099,145 shares of the company’s stock valued at $36,624,000 after buying an additional 334,954 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $245,000. Finally, Morgan Stanley lifted its position in shares of Keurig Dr Pepper by 15.0% during the 3rd quarter. Morgan Stanley now owns 7,994,795 shares of the company’s stock valued at $252,396,000 after buying an additional 1,044,167 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In other Keurig Dr Pepper news, insider Roger Frederick Johnson sold 31,227 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $33.82, for a total transaction of $1,056,097.14. Following the completion of the sale, the insider now owns 100,000 shares of the company’s stock, valued at $3,382,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Keurig Dr Pepper news, Director Robert S. Singer sold 12,132 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the sale, the director now owns 37,643 shares of the company’s stock, valued at $1,101,057.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Roger Frederick Johnson sold 31,227 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $33.82, for a total value of $1,056,097.14. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $3,382,000. The disclosure for this sale can be found here. Insiders sold a total of 100,085,652 shares of company stock valued at $2,892,832,080 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.81 on Wednesday. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $34.65. The firm has a market capitalization of $45.83 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The stock’s fifty day moving average is $30.76 and its two-hundred day moving average is $31.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 0.51.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen boosted their price target on shares of Keurig Dr Pepper from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Royal Bank of Canada reduced their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Jefferies Financial Group cut their price objective on Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Wedbush decreased their target price on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, Morgan Stanley dropped their price target on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average price target of $36.64.

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.