Thrivent Financial for Lutherans Sells 113,583 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Thrivent Financial for Lutherans reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 47.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 124,014 shares of the company’s stock after selling 113,583 shares during the period. Thrivent Financial for Lutherans’ holdings in Keurig Dr Pepper were worth $4,648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Keurig Dr Pepper by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after purchasing an additional 1,878,597 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at about $37,643,000. Armistice Capital LLC lifted its position in Keurig Dr Pepper by 186.3% in the second quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after purchasing an additional 966,924 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Keurig Dr Pepper by 5,018.4% during the second quarter. Public Sector Pension Investment Board now owns 839,057 shares of the company’s stock valued at $28,025,000 after acquiring an additional 822,664 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Keurig Dr Pepper by 5.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock worth $574,146,000 after purchasing an additional 730,297 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup cut their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company dropped their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Barclays lowered their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. TD Cowen raised their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and an average price target of $38.36.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $32.66 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $44.30 billion, a PE ratio of 19.79, a PEG ratio of 2.49 and a beta of 0.63. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The business’s fifty day simple moving average is $35.20 and its 200-day simple moving average is $34.72.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.23 per share. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

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.