Parallel Advisors LLC Reduces Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Parallel Advisors LLC decreased its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,214 shares of the company’s stock after selling 2,441 shares during the quarter. Parallel Advisors LLC’s holdings in Keurig Dr Pepper were worth $457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KDP. FMR LLC grew its holdings in shares of 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 boosted its position 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 purchasing an additional 4,970,467 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Keurig Dr Pepper by 394.3% during the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock valued at $91,908,000 after purchasing an additional 1,956,138 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at about $57,995,000. Finally, OFI Invest Asset Management bought a new position in shares of Keurig Dr Pepper in the 4th quarter worth approximately $38,629,000. Institutional investors own 93.99% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the transaction, the insider now owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This represents a 38.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $33.39, for a total value of $400,680.00. Following the completion of the sale, the insider now owns 178,511 shares of the company’s stock, valued at $5,960,482.29. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,397,350 shares of company stock valued at $2,756,292,570 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $33.55 on Friday. Keurig Dr Pepper Inc. has a 1-year low of $29.53 and a 1-year high of $38.28. The company’s 50-day moving average is $32.44 and its 200 day moving average is $33.68. The firm has a market capitalization of $45.52 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. Research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is presently 87.62%.

Analyst Ratings Changes

A number of brokerages have commented on KDP. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Barclays set a $39.00 target price on Keurig Dr Pepper in a report on Thursday, February 27th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley boosted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

Keurig Dr Pepper 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.