Cornerstone Advisors LLC Has $1.50 Million Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cornerstone Advisors LLC cut its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,800 shares of the company’s stock after selling 1,700 shares during the quarter. Cornerstone Advisors LLC’s holdings in Keurig Dr Pepper were worth $1,496,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Keurig Dr Pepper in the second quarter valued at $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the second quarter valued at $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $37.35 on Tuesday. The stock has a 50-day simple moving average of $34.95 and a 200 day simple moving average of $33.26. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $27.66 and a 12-month high of $37.84. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 2.79 and a beta of 0.62.

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

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. This is a positive change 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 presently 59.35%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. cut their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. UBS Group increased their price objective on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their price objective for the stock from $27.00 to $34.00 in a research note on Monday, June 17th. Finally, Barclays dropped their price objective on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

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.