State of New Jersey Common Pension Fund D Has $18.78 Million Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of New Jersey Common Pension Fund D raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 563,679 shares of the company’s stock after buying an additional 65,081 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Keurig Dr Pepper were worth $18,782,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its holdings in shares of Keurig Dr Pepper by 24.3% during the fourth quarter. DAVENPORT & Co LLC now owns 2,604,968 shares of the company’s stock valued at $86,820,000 after acquiring an additional 509,393 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Keurig Dr Pepper by 14.2% during the 4th quarter. Arizona State Retirement System now owns 294,833 shares of the company’s stock valued at $9,824,000 after buying an additional 36,560 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Keurig Dr Pepper by 43.8% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,099,145 shares of the company’s stock valued at $36,624,000 after buying an additional 334,954 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Keurig Dr Pepper during the 3rd quarter valued at $245,000. Finally, Morgan Stanley lifted its position in shares of Keurig Dr Pepper by 15.0% during the 3rd quarter. Morgan Stanley now owns 7,994,795 shares of the company’s stock valued at $252,396,000 after buying an additional 1,044,167 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KDP. Morgan Stanley dropped their price objective on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Wedbush dropped their price objective on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Royal Bank of Canada dropped their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Barclays increased their price objective on Keurig Dr Pepper from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Jefferies Financial Group dropped their price objective on Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.45.

Keurig Dr Pepper Trading Up 4.6 %

KDP traded up $1.50 on Thursday, hitting $33.84. 14,556,949 shares of the company were exchanged, compared to its average volume of 10,583,378. The firm has a fifty day simple moving average of $30.30 and a two-hundred day simple moving average of $31.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.38. Keurig Dr Pepper Inc. has a 12 month low of $27.66 and a 12 month high of $35.80. The stock has a market capitalization of $46.96 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.42 and a beta of 0.66.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Keurig Dr Pepper had a return on equity of 9.93% and a net margin of 14.72%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.50 EPS. Keurig Dr Pepper’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.91 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, March 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.48%.

Insider Activity

In other news, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the transaction, the director now owns 37,643 shares in the company, valued at approximately $1,101,057.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Holdings B.V. Jab sold 13,043,478 shares of Keurig Dr Pepper stock in a transaction on Friday, March 15th. The stock was sold at an average price of $28.90, for a total value of $376,956,514.20. Following the completion of the sale, the insider now owns 283,443,879 shares of the company’s stock, valued at $8,191,528,103.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Singer sold 12,132 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the sale, the director now directly owns 37,643 shares of the company’s stock, valued at approximately $1,101,057.75. The disclosure for this sale can be found here. Insiders sold a total of 100,012,132 shares of company stock worth $2,890,354,861 in the last quarter. 0.81% of the stock is owned by company insiders.

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.