Bank of Montreal Can Sells 293,869 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Bank of Montreal Can reduced its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 19.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,256,016 shares of the company’s stock after selling 293,869 shares during the period. Bank of Montreal Can owned approximately 0.09% of Keurig Dr Pepper worth $43,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KDP. Capital World Investors raised its position in shares of Keurig Dr Pepper by 14.6% in the 4th quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock valued at $3,599,652,000 after buying an additional 13,738,345 shares in the last quarter. Vanguard Group Inc. raised its position in Keurig Dr Pepper by 9.4% during the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after purchasing an additional 7,825,418 shares in the last quarter. Capital International Investors lifted its stake in Keurig Dr Pepper by 1.3% during the fourth quarter. Capital International Investors now owns 56,060,464 shares of the company’s stock worth $1,867,937,000 after purchasing an additional 730,112 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Keurig Dr Pepper by 107.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Keurig Dr Pepper by 2.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock valued at $445,648,000 after purchasing an additional 317,837 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $37.53 on Friday. The stock has a market capitalization of $50.89 billion, a PE ratio of 24.21, a PEG ratio of 2.86 and a beta of 0.62. The business’s 50 day simple moving average is $35.76 and its 200 day simple moving average is $33.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Wall Street Analysts Forecast Growth

KDP has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Truist Financial raised shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their price objective for the company from $27.00 to $34.00 in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their target price on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.53.

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.