Arizona State Retirement System reduced its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,273 shares of the company’s stock after selling 3,044 shares during the period. Arizona State Retirement System’s holdings in Keurig Dr Pepper were worth $8,154,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. grew its position in shares of Keurig Dr Pepper by 973.8% in the third quarter. Geneos Wealth Management Inc. now owns 902 shares of the company’s stock valued at $28,000 after purchasing an additional 818 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Keurig Dr Pepper by 83.4% in the second quarter. Global Retirement Partners LLC now owns 937 shares of the company’s stock worth $29,000 after purchasing an additional 426 shares during the period. Resurgent Financial Advisors LLC acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth about $34,000. Finally, Huntington National Bank boosted its stake in Keurig Dr Pepper by 60.4% during the 2nd quarter. Huntington National Bank now owns 1,229 shares of the company’s stock valued at $38,000 after purchasing an additional 463 shares during the period. Institutional investors and hedge funds own 52.29% of the company’s stock.
Insider Transactions at Keurig Dr Pepper
In other Keurig Dr Pepper news, COO Timothy P. Cofer acquired 50,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $31.26 per share, for a total transaction of $1,563,000.00. Following the transaction, the chief operating officer now owns 350,393 shares in the company, valued at approximately $10,953,285.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Monique Oxender acquired 6,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was purchased at an average price of $32.72 per share, for a total transaction of $196,320.00. Following the transaction, the insider now owns 56,848 shares of the company’s stock, valued at approximately $1,860,066.56. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Timothy P. Cofer purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were bought at an average cost of $31.26 per share, for a total transaction of $1,563,000.00. Following the completion of the purchase, the chief operating officer now directly owns 350,393 shares of the company’s stock, valued at $10,953,285.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 71,000 shares of company stock valued at $2,225,220. Corporate insiders own 0.81% of the company’s stock.
Keurig Dr Pepper Stock Down 0.7 %
Keurig Dr Pepper Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, January 5th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.86 annualized dividend and a yield of 2.70%. Keurig Dr Pepper’s dividend payout ratio is 62.32%.
Wall Street Analyst Weigh In
Several brokerages have commented on KDP. Sanford C. Bernstein dropped their price target on Keurig Dr Pepper from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Barclays boosted their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. 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 objective for the company. Morgan Stanley downgraded Keurig Dr Pepper from an “overweight” rating to an “equal weight” rating and set a $37.00 target price on the stock. in a research report on Wednesday, January 3rd. Finally, StockNews.com initiated coverage on Keurig Dr Pepper in a report on Thursday, October 5th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and five have assigned 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 price target of $37.00.
Keurig Dr Pepper Company Profile
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.
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