Keurig Dr Pepper, Inc $KDP Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC cut its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 16.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,498,536 shares of the company’s stock after selling 299,376 shares during the quarter. Cullen Capital Management LLC owned about 0.11% of Keurig Dr Pepper worth $49,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Keurig Dr Pepper during the 2nd quarter worth about $568,525,000. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 9.8% during the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after purchasing an additional 14,244,768 shares during the last quarter. Invesco Ltd. raised its stake in Keurig Dr Pepper by 43.2% during the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the period. State Street Corp boosted its holdings in shares of Keurig Dr Pepper by 11.2% in the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after purchasing an additional 6,412,494 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after buying an additional 3,595,579 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BNP Paribas Exane lowered Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research report on Monday, September 22nd. Bank of America cut their price objective on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays boosted their target price on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Finally, Citigroup decreased their price objective on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Keurig Dr Pepper has an average rating of “Hold” and a consensus target price of $35.27.

Keurig Dr Pepper Stock Up 0.1%

NASDAQ KDP opened at $29.51 on Monday. 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 fifty-two week low of $25.03 and a fifty-two week high of $36.12. The business has a 50 day moving average price of $27.39 and a two-hundred day moving average price of $30.11. The stock has a market cap of $40.09 billion, a PE ratio of 25.44, a P/E/G ratio of 1.90 and a beta of 0.35.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Monday, October 27th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, sell-side analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, January 2nd. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

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.