Illinois Municipal Retirement Fund lessened its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 431,013 shares of the company’s stock after selling 57,505 shares during the period. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $13,077,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of KDP. Keybank National Association OH boosted its stake in shares of Keurig Dr Pepper by 3.0% in the third quarter. Keybank National Association OH now owns 18,876 shares of the company’s stock worth $573,000 after acquiring an additional 557 shares during the last quarter. Csenge Advisory Group acquired a new position in Keurig Dr Pepper during the third quarter worth $286,000. AlphaCore Capital LLC grew its holdings in Keurig Dr Pepper by 58.8% in the 3rd quarter. AlphaCore Capital LLC now owns 20,196 shares of the company’s stock valued at $613,000 after buying an additional 7,476 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Keurig Dr Pepper by 664.0% in the 3rd quarter. Retirement Systems of Alabama now owns 2,183,609 shares of the company’s stock valued at $66,251,000 after buying an additional 1,897,787 shares in the last quarter. Finally, Fulcrum Asset Management LLP increased its stake in shares of Keurig Dr Pepper by 1,691.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 3,225 shares of the company’s stock worth $100,000 after acquiring an additional 3,045 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.
Keurig Dr Pepper Trading Up 1.8%
NASDAQ KDP opened at $38.25 on Thursday. The firm’s fifty day moving average price is $33.21 and its 200 day moving average price is $30.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.52 and a quick ratio of 0.32. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $38.29. The company has a market capitalization of $52.05 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 1.79 and a beta of 0.35.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. Keurig Dr Pepper had a return on equity of 11.27% and a net margin of 7.12%. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.33 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 70.6% on a year-over-year basis. On average, sell-side analysts expect that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current fiscal year.
Keurig Dr Pepper Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 84.40%.
Insider Transactions at Keurig Dr Pepper
In other news, VP Angela Stephens sold 9,500 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total value of $310,650.00. Following the completion of the transaction, the vice president owned 55,786 shares in the company, valued at $1,824,202.20. This trade represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total value of $390,600.00. Following the transaction, the insider directly owned 84,171 shares of the company’s stock, valued at approximately $2,739,766.05. This represents a 12.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.34% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on KDP. Barclays lifted their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Morgan Stanley upped their target price on shares of Keurig Dr Pepper from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. BNP Paribas Exane raised their price target on Keurig Dr Pepper from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Piper Sandler reissued an “overweight” rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Keurig Dr Pepper in a research note on Wednesday, November 4th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average price target of $37.29.
Get Our Latest Stock Analysis on KDP
About Keurig Dr Pepper
Keurig Dr Pepper Inc. (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods. The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.
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