Lexington Partners L.P. Has $55.17 Million Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Lexington Partners L.P. lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 45.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,651,756 shares of the company’s stock after selling 1,349,492 shares during the period. Keurig Dr Pepper makes up 62.0% of Lexington Partners L.P.’s holdings, making the stock its biggest holding. Lexington Partners L.P.’s holdings in Keurig Dr Pepper were worth $55,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at about $2,564,000. Heritage Oak Wealth Advisors LLC bought a new position in shares of Keurig Dr Pepper in the 2nd quarter worth about $208,000. Aristides Capital LLC acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at about $501,000. Truist Financial Corp boosted its position in shares of Keurig Dr Pepper by 169.3% during the 2nd quarter. Truist Financial Corp now owns 238,251 shares of the company’s stock valued at $7,958,000 after purchasing an additional 149,776 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Keurig Dr Pepper in the second quarter worth approximately $127,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

KDP has been the subject of several recent analyst reports. BNP Paribas started coverage on shares of Keurig Dr Pepper in a research report on Monday, June 24th. They set a “neutral” rating and a $36.00 price objective for the company. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Citigroup raised Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $43.00 in a research report on Monday, September 23rd. TD Cowen boosted their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lifted their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and a consensus price target of $37.53.

Keurig Dr Pepper Trading Down 0.8 %

Shares of KDP opened at $37.19 on Wednesday. The stock has a market capitalization of $50.41 billion, a P/E ratio of 23.99, a PEG ratio of 2.86 and a beta of 0.62. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $38.28. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $36.03 and a two-hundred day simple moving average of $33.92.

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

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.47%. 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 (DPR) is currently 59.35%.

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.