California Public Employees Retirement System Trims Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

California Public Employees Retirement System lessened its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,780,516 shares of the company’s stock after selling 13,111 shares during the quarter. California Public Employees Retirement System’s holdings in Keurig Dr Pepper were worth $192,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Keurig Dr Pepper by 12.9% in the third quarter. FMR LLC now owns 60,682,003 shares of the company’s stock worth $1,915,731,000 after buying an additional 6,926,582 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Keurig Dr Pepper by 7.2% in the third quarter. Vanguard Group Inc. now owns 82,196,547 shares of the company’s stock worth $2,594,945,000 after buying an additional 5,490,242 shares in the last quarter. Barclays PLC lifted its stake in shares of Keurig Dr Pepper by 65.8% in the third quarter. Barclays PLC now owns 4,347,111 shares of the company’s stock worth $137,240,000 after buying an additional 1,725,535 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Keurig Dr Pepper by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,213,050 shares of the company’s stock worth $506,899,000 after buying an additional 1,518,286 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Keurig Dr Pepper by 13.4% during the third quarter. Northern Trust Corp now owns 12,173,081 shares of the company’s stock valued at $384,304,000 after purchasing an additional 1,441,007 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

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

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP traded up $0.06 during midday trading on Tuesday, reaching $31.82. The stock had a trading volume of 882,376 shares, compared to its average volume of 10,429,107. The stock has a 50-day moving average of $30.26 and a 200-day moving average of $31.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.38. The company has a market capitalization of $44.15 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.66. Keurig Dr Pepper Inc. has a 12-month low of $27.66 and a 12-month high of $35.99.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $3.87 billion during 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 company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. As a group, research analysts anticipate that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.86 annualized dividend and a yield of 2.70%. Keurig Dr Pepper’s payout ratio is 55.48%.

Insider Activity at Keurig Dr Pepper

In related news, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.25, for a total transaction of $354,861.00. Following the completion of the transaction, the director now directly owns 37,643 shares of the company’s stock, valued at $1,101,057.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert James Gamgort bought 171,821 shares of the stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average price of $29.10 per share, for a total transaction of $4,999,991.10. Following the acquisition, the chief executive officer now owns 3,179,917 shares of the company’s stock, valued at $92,535,584.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total transaction of $354,861.00. Following the completion of the sale, the director now owns 37,643 shares of the company’s stock, valued at approximately $1,101,057.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,012,132 shares of company stock valued at $2,890,354,861. Corporate insiders own 0.81% 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.