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

Cornerstone Advisors LLC trimmed its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.7% in the second quarter, Holdings Channel.com reports. The firm owned 44,800 shares of the company’s stock after selling 1,700 shares during the period. Cornerstone Advisors LLC’s holdings in Keurig Dr Pepper were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after purchasing an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Keurig Dr Pepper by 617.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after buying an additional 685 shares during the period. Farmers & Merchants Investments Inc. grew its position in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after buying an additional 301 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter worth about $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter worth about $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 research report on Wednesday, June 5th. JPMorgan Chase & Co. decreased their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and set a $41.00 target price on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Finally, Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their price objective for the company from $27.00 to $34.00 in a report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Keurig Dr Pepper Trading Down 0.7 %

NASDAQ KDP opened at $37.35 on Tuesday. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.79 and a beta of 0.62. The stock’s 50 day moving average price is $34.95 and its two-hundred day moving average price is $33.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. Keurig Dr Pepper Inc. has a 52 week low of $27.66 and a 52 week high of $37.84.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is currently 59.35%.

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.