New York State Common Retirement Fund Reduces Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

New York State Common Retirement Fund lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,408,031 shares of the company’s stock after selling 98,205 shares during the quarter. New York State Common Retirement Fund’s holdings in Keurig Dr Pepper were worth $46,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Keurig Dr Pepper in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Keurig Dr Pepper during the 4th quarter valued at approximately $29,000. Bruce G. Allen Investments LLC purchased a new position in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $34,000. Ulland Investment Advisors LLC purchased a new stake in Keurig Dr Pepper in the fourth quarter worth $50,000. Finally, Operose Advisors LLC lifted its stake in Keurig Dr Pepper by 28.7% in the third quarter. Operose Advisors LLC now owns 1,673 shares of the company’s stock worth $53,000 after acquiring an additional 373 shares during the period. Institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $32.34 on Thursday. The company has a market capitalization of $44.87 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.66. 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 one year low of $27.66 and a one year high of $35.99. The company’s 50-day moving average is $30.30 and its 200 day moving average is $31.03.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Wednesday, March 27th. Keurig Dr Pepper’s payout ratio is currently 55.48%.

Wall Street Analysts Forecast Growth

KDP has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Jefferies Financial Group decreased their target price on Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wedbush reduced their price target on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Morgan Stanley lowered their price objective on Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Finally, Barclays upped their target price on shares of Keurig Dr Pepper from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.45.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the completion of the transaction, the insider now owns 331,487,357 shares of the company’s stock, valued at approximately $9,579,984,617.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Priyadarshi Sudhanshu acquired 85,910 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of $29.10 per share, for a total transaction of $2,499,981.00. Following the completion of the transaction, the chief financial officer now owns 218,566 shares in the company, valued at $6,360,270.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings B.V. Jab sold 51,956,522 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.90, for a total value of $1,501,543,485.80. Following the sale, the insider now owns 331,487,357 shares of the company’s stock, valued at $9,579,984,617.30. The disclosure for this sale can be found here. Insiders have sold 100,012,132 shares of company stock valued at $2,890,354,861 over the last ninety days. Insiders own 0.81% of the company’s stock.

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.