Ballentine Partners LLC Sells 1,421 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Ballentine Partners LLC lessened its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,419 shares of the company’s stock after selling 1,421 shares during the period. Ballentine Partners LLC’s holdings in Keurig Dr Pepper were worth $653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after acquiring an additional 685 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after acquiring an additional 643 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Keurig Dr Pepper by 105.6% during the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock valued at $39,000 after acquiring an additional 530 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $35,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen lifted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Royal Bank of Canada boosted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Barclays boosted their price objective on shares of Keurig Dr Pepper from $37.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $34.58 on Friday. The firm’s fifty day simple moving average is $36.73 and its two-hundred day simple moving average is $34.64. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The firm has a market capitalization of $46.88 billion, a P/E ratio of 22.31, a P/E/G ratio of 2.73 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. Keurig Dr Pepper’s payout ratio is 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.