Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,865,905 shares of the company’s stock after selling 218,566 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Keurig Dr Pepper were worth $95,721,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Keurig Dr Pepper by 312.1% during the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares during the period. Riverview Trust Co acquired a new position in Keurig Dr Pepper during the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its position in Keurig Dr Pepper by 210.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock valued at $44,000 after purchasing an additional 894 shares during the period. Mather Group LLC. acquired a new position in Keurig Dr Pepper during the 1st quarter valued at approximately $45,000. Finally, EverSource Wealth Advisors LLC boosted its position in Keurig Dr Pepper by 122.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,367 shares of the company’s stock valued at $46,000 after purchasing an additional 753 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Up 0.2 %

KDP stock opened at $35.39 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The firm has a market capitalization of $47.97 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.60 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $35.53. The company’s 50 day simple moving average is $33.76 and its 200-day simple moving average is $32.42.

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

Insider Buying and Selling

In related news, insider Matthew Andrew Archambault sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $34.19, for a total transaction of $273,520.00. Following the transaction, the insider now directly owns 12,565 shares of the company’s stock, valued at $429,597.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KDP. Barclays reduced their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. UBS Group boosted their price target on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. TD Cowen boosted their price target on Keurig Dr Pepper from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. BNP Paribas initiated coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They set a “neutral” rating and a $36.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.