Keurig Dr Pepper, Inc $KDP Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 775,849 shares of the company’s stock after purchasing an additional 36,699 shares during the quarter. New York State Teachers Retirement System’s holdings in Keurig Dr Pepper were worth $25,650,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KDP. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 21.3% during the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after acquiring an additional 25,425,644 shares during the period. JPMorgan Chase & Co. boosted its position in Keurig Dr Pepper by 108.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Keurig Dr Pepper by 981.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,514,608 shares of the company’s stock worth $86,050,000 after purchasing an additional 2,282,050 shares during the period. Seven Grand Managers LLC purchased a new position in shares of Keurig Dr Pepper during the 1st quarter valued at approximately $51,330,000. Finally, Armistice Capital LLC acquired a new position in shares of Keurig Dr Pepper in the first quarter worth about $37,632,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Up 1.1%

Shares of NASDAQ KDP opened at $28.03 on Friday. The company has a market capitalization of $38.08 billion, a P/E ratio of 25.03, a P/E/G ratio of 1.53 and a beta of 0.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The company has a 50 day simple moving average of $28.74 and a 200-day simple moving average of $32.00. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $37.27.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio is presently 82.14%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of the transaction, the director owned 2,292,169 shares of the company’s stock, valued at $75,412,360.10. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 423,601 shares of company stock worth $14,017,592 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KDP. Piper Sandler dropped their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Jefferies Financial Group set a $41.00 price target on Keurig Dr Pepper in a research report on Monday, August 25th. HSBC reaffirmed a “hold” rating and set a $30.00 target price (down previously from $42.00) on shares of Keurig Dr Pepper in a research note on Tuesday, August 26th. Wells Fargo & Company reduced their target price on shares of Keurig Dr Pepper from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, UBS Group lowered their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 27th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

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.