Public Sector Pension Investment Board Purchases 822,664 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Public Sector Pension Investment Board increased its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5,018.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 839,057 shares of the company’s stock after acquiring an additional 822,664 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.06% of Keurig Dr Pepper worth $28,025,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KDP. Farmers & Merchants Investments Inc. increased its position in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after purchasing an additional 301 shares in the last quarter. Federated Hermes Inc. raised its stake in Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after buying an additional 314 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in Keurig Dr Pepper by 1.1% in the fourth quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock worth $1,051,000 after acquiring an additional 328 shares in the last quarter. Mather Group LLC. grew its stake in shares of Keurig Dr Pepper by 29.0% during the second quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock worth $53,000 after acquiring an additional 392 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Keurig Dr Pepper by 0.4% during the fourth quarter. US Bancorp DE now owns 121,107 shares of the company’s stock valued at $4,035,000 after acquiring an additional 503 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Down 0.1 %

Shares of KDP opened at $37.46 on Monday. The stock has a 50 day moving average price of $35.37 and a 200 day moving average price of $33.47. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $37.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The stock has a market capitalization of $50.78 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business posted $0.42 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their price target for the company from $27.00 to $34.00 in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their target price on Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price target on shares of Keurig Dr Pepper in a report on Friday, July 26th. Barclays dropped their price objective on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Finally, Wells Fargo & Company boosted their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.