Illinois Municipal Retirement Fund reduced its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) by 18.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,189 shares of the company’s stock after selling 103,324 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $12,143,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $26,000. Activest Wealth Management raised its stake in Keurig Dr Pepper by 5,642.1% in the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock valued at $31,000 after purchasing an additional 1,072 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $31,000. Rossby Financial LCC lifted its position in Keurig Dr Pepper by 45.1% during the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock valued at $31,000 after purchasing an additional 339 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in Keurig Dr Pepper by 67.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,118 shares of the company’s stock valued at $31,000 after purchasing an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Keurig Dr Pepper Stock Up 3.6%
Shares of KDP opened at $31.38 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $35.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The stock has a 50 day simple moving average of $30.75 and a two-hundred day simple moving average of $28.82. The firm has a market cap of $42.69 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.38 and a beta of 0.40.
Keurig Dr Pepper Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. UBS Group raised their price objective on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group raised shares of Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a report on Thursday, June 25th. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 1st. Finally, Barclays raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.07.
Read Our Latest Research Report on Keurig Dr Pepper
Keurig Dr Pepper Profile
Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.
The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.
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