Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDPFree Report) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,800 shares of the company’s stock after purchasing an additional 44,200 shares during the period. State of Michigan Retirement System’s holdings in Keurig Dr Pepper were worth $8,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Forsta AP Fonden raised its holdings in shares of Keurig Dr Pepper by 32.2% during the second quarter. Forsta AP Fonden now owns 193,600 shares of the company’s stock worth $6,054,000 after purchasing an additional 47,200 shares during the last quarter. Capital International Inc. CA raised its holdings in shares of Keurig Dr Pepper by 1,418.0% during the second quarter. Capital International Inc. CA now owns 101,011 shares of the company’s stock worth $3,159,000 after purchasing an additional 94,357 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Keurig Dr Pepper by 33.0% in the second quarter. Teacher Retirement System of Texas now owns 281,785 shares of the company’s stock valued at $8,811,000 after buying an additional 69,974 shares in the last quarter. Xponance Inc. increased its holdings in Keurig Dr Pepper by 3.4% in the second quarter. Xponance Inc. now owns 107,932 shares of the company’s stock valued at $3,375,000 after buying an additional 3,553 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Keurig Dr Pepper by 19.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 99,321 shares of the company’s stock valued at $3,106,000 after buying an additional 15,953 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, COO Timothy P. Cofer bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $31.26 per share, with a total value of $1,563,000.00. Following the purchase, the chief operating officer now directly owns 350,393 shares in the company, valued at $10,953,285.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Karin Rotem-Wildeman acquired 7,050 shares of the company’s stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $29.95 per share, with a total value of $211,147.50. Following the transaction, the insider now owns 69,448 shares in the company, valued at approximately $2,079,967.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy P. Cofer acquired 50,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $31.26 per share, for a total transaction of $1,563,000.00. Following the completion of the transaction, the chief operating officer now owns 350,393 shares in the company, valued at approximately $10,953,285.18. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 78,050 shares of company stock worth $2,436,368. 0.81% of the stock is currently owned by insiders.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $31.91 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.39 and a quick ratio of 0.23. The firm has a market capitalization of $44.62 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.52 and a beta of 0.68. The company’s 50-day moving average is $32.20 and its two-hundred day moving average is $32.08. Keurig Dr Pepper Inc. has a 1-year low of $27.66 and a 1-year high of $36.23.

Keurig Dr Pepper (NASDAQ:KDPGet Free Report) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. Keurig Dr Pepper had a net margin of 13.16% and a return on equity of 9.76%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that Keurig Dr Pepper Inc. will post 1.78 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be issued a $0.215 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.86 annualized dividend and a dividend yield of 2.70%. Keurig Dr Pepper’s dividend payout ratio is currently 62.32%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of research reports. Morgan Stanley cut shares of Keurig Dr Pepper from an “overweight” rating to an “equal weight” rating and set a $37.00 target price for the company. in a research note on Wednesday, January 3rd. StockNews.com initiated coverage on shares of Keurig Dr Pepper in a research note on Thursday, October 5th. They set a “hold” rating for the company. Barclays boosted their target price on shares of Keurig Dr Pepper from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. HSBC initiated coverage on shares of Keurig Dr Pepper in a research report on Friday, December 22nd. They set a “hold” rating and a $37.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Keurig Dr Pepper in a research report on Monday, November 13th. They set a “buy” rating and a $39.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.90.

Check Out Our Latest Report on Keurig Dr Pepper

About Keurig Dr Pepper

(Free Report)

Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.

Further Reading

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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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