Kentucky Retirement Systems Sells 438 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Kentucky Retirement Systems trimmed its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,656 shares of the company’s stock after selling 438 shares during the quarter. Kentucky Retirement Systems’ holdings in Keurig Dr Pepper were worth $2,627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its position in shares of Keurig Dr Pepper by 14.6% in the 4th quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock valued at $3,599,652,000 after purchasing an additional 13,738,345 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Keurig Dr Pepper by 107.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after buying an additional 12,259,471 shares during the period. Vanguard Group Inc. increased its position in shares of Keurig Dr Pepper by 9.4% during the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock worth $2,786,075,000 after acquiring an additional 7,825,418 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter worth $105,569,000. Finally, Dimensional Fund Advisors LP lifted its position in Keurig Dr Pepper by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock valued at $212,901,000 after acquiring an additional 1,878,597 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KDP. Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and lifted their price target for the company from $27.00 to $34.00 in a research note on Monday, June 17th. JPMorgan Chase & Co. cut their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. UBS Group raised their price target on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BNP Paribas assumed coverage on shares of Keurig Dr Pepper in a report on Monday, June 24th. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Stock Down 0.1 %

Shares of KDP stock opened at $37.46 on Friday. Keurig Dr Pepper Inc. has a 52-week low of $27.66 and a 52-week high of $37.84. The stock has a market cap of $50.78 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.62. The firm’s 50-day moving average is $35.37 and its 200-day moving average is $33.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 27th. Keurig Dr Pepper’s payout ratio is 59.35%.

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.