Teacher Retirement System of Texas Cuts Stock Holdings in Keurig Dr Pepper, Inc $KDP

Teacher Retirement System of Texas trimmed its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 40.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,862 shares of the company’s stock after selling 154,352 shares during the quarter. Teacher Retirement System of Texas’ holdings in Keurig Dr Pepper were worth $7,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Keurig Dr Pepper by 21.3% during the 1st 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 last quarter. JPMorgan Chase & Co. boosted its holdings in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after acquiring an additional 20,196,835 shares during the last quarter. Invesco Ltd. boosted its holdings in Keurig Dr Pepper by 1.7% during the 1st quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock worth $751,920,000 after acquiring an additional 367,518 shares during the last quarter. Northern Trust Corp boosted its holdings in Keurig Dr Pepper by 0.8% during the 1st quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock worth $469,248,000 after acquiring an additional 114,044 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Keurig Dr Pepper by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company’s stock worth $351,927,000 after purchasing an additional 358,350 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $27.68 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.40. The stock has a market capitalization of $37.61 billion, a PE ratio of 23.86, a P/E/G ratio of 1.75 and a beta of 0.43. The company’s 50 day simple moving average is $27.47 and its two-hundred day simple moving average is $31.57.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Monday, October 27th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, September 26th. Keurig Dr Pepper’s dividend payout ratio is 79.31%.

Analyst Ratings Changes

KDP has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen reduced their target price on shares of Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. Piper Sandler reduced their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Jefferies Financial Group set a $41.00 target price on shares of Keurig Dr Pepper in a research report on Monday, August 25th. Finally, Hsbc Global Res downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.27.

Insider Buying and Selling at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 7,601 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the transaction, the director directly owned 2,284,568 shares in the company, valued at approximately $82,038,836.88. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Company 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.