Tocqueville Asset Management L.P. Lowers Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Tocqueville Asset Management L.P. reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 307,364 shares of the company’s stock after selling 71,634 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Keurig Dr Pepper were worth $9,873,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KDP. FMR LLC lifted its stake in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the period. State Street Corp lifted its stake in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. National Bank of Canada FI lifted its stake in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after acquiring an additional 1,956,138 shares during the period. Raymond James Financial Inc. purchased a new stake in Keurig Dr Pepper in the fourth quarter worth about $57,995,000. Finally, OFI Invest Asset Management purchased a new stake in Keurig Dr Pepper in the fourth quarter worth about $38,629,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Performance

KDP opened at $33.84 on Tuesday. Keurig Dr Pepper Inc. has a 52-week low of $28.80 and a 52-week high of $38.28. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a market cap of $45.91 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The firm’s 50-day moving average price is $32.22 and its 200-day moving average price is $33.72.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.72%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 87.62%.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the acquisition, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Robert James Gamgort sold 416,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total value of $14,264,640.00. Following the completion of the sale, the chairman now owns 3,237,066 shares in the company, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,385,350 shares of company stock worth $2,755,891,890. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. TD Cowen decreased their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price target for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.23.

Keurig Dr Pepper Company Profile

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.