Envestnet Asset Management Inc. Sells 1,308,929 Shares of Keurig Dr Pepper, Inc $KDP

Envestnet Asset Management Inc. lessened its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 43.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,726,650 shares of the company’s stock after selling 1,308,929 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Keurig Dr Pepper worth $44,047,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH increased its holdings in Keurig Dr Pepper by 7.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 53,582 shares of the company’s stock worth $1,367,000 after purchasing an additional 3,888 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Keurig Dr Pepper by 7.3% during the third quarter. Jones Financial Companies Lllp now owns 15,907 shares of the company’s stock valued at $406,000 after buying an additional 1,086 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 39.3% in the third quarter. Transcend Capital Advisors LLC now owns 16,512 shares of the company’s stock valued at $421,000 after acquiring an additional 4,661 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Keurig Dr Pepper by 83.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,187,889 shares of the company’s stock worth $55,813,000 after acquiring an additional 994,642 shares during the period. Finally, National Pension Service raised its holdings in shares of Keurig Dr Pepper by 3.0% in the 3rd quarter. National Pension Service now owns 2,031,297 shares of the company’s stock valued at $51,818,000 after purchasing an additional 58,594 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Insider Activity

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the transaction, the vice president owned 54,200 shares of the company’s stock, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Up 0.7%

Shares of NASDAQ:KDP opened at $28.71 on Wednesday. The business’s 50-day moving average is $28.06 and its 200 day moving average is $28.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.38. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12. The firm has a market capitalization of $39.00 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.96 and a beta of 0.34.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.2%. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Barclays upped 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Wednesday, January 28th. UBS Group reissued a “buy” rating and issued a $35.00 price target on shares of Keurig Dr Pepper in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $32.00 in a research report on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.87.

Keurig Dr Pepper 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.