Kentucky Retirement Systems Sells 4,968 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Kentucky Retirement Systems trimmed its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.3% in the third quarter, HoldingsChannel reports. The fund owned 73,688 shares of the company’s stock after selling 4,968 shares during the period. Kentucky Retirement Systems’ holdings in Keurig Dr Pepper were worth $2,762,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in Keurig Dr Pepper during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in shares of Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after purchasing an additional 643 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after buying an additional 685 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after buying an additional 301 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in Keurig Dr Pepper during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KDP shares. Jefferies Financial Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Citigroup reduced their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. TD Cowen boosted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, Barclays decreased their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Trading Down 5.2 %

Shares of NASDAQ KDP opened at $31.66 on Monday. The stock has a market cap of $42.95 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The firm has a 50-day moving average of $35.73 and a 200 day moving average of $34.78.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper Company 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.