Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Bought by Kentucky Retirement Systems

Kentucky Retirement Systems grew its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,368 shares of the company’s stock after purchasing an additional 3,680 shares during the quarter. Kentucky Retirement Systems’ holdings in Keurig Dr Pepper were worth $2,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the last quarter. State Street Corp increased its position in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the last quarter. National Bank of Canada FI increased its position in shares of Keurig Dr Pepper by 394.3% during the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after acquiring an additional 1,956,138 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Keurig Dr Pepper by 125.5% during the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock worth $51,679,000 after acquiring an additional 767,298 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new stake in shares of Keurig Dr Pepper during the third quarter worth about $26,352,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Up 2.7 %

NASDAQ:KDP opened at $34.04 on Friday. The firm has a market capitalization of $46.17 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. The stock has a 50 day moving average of $31.80 and a 200-day moving average of $33.95. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Analyst Ratings Changes

A number of analysts have recently issued reports on KDP shares. Wells Fargo & Company dropped their target price on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group dropped their target price on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. TD Cowen lowered their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, Piper Sandler began coverage on Keurig Dr Pepper in a report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Insider Activity

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the transaction, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper 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.