California Public Employees Retirement System Sells 375,964 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• CalPERS reduced its stake in Keurig Dr Pepper by 11.3% in the first quarter, selling 375,964 shares and leaving it with 2,961,193 shares valued at about $77.97 million.
• Analysts remain mixed on KDP, with recent target price increases from JPMorgan and UBS, but the overall consensus still sitting at “Hold” with an average price target of $33.07.
• The company reported solid quarterly profitability and a dividend, posting EPS of $0.39 versus estimates of $0.37 and paying a quarterly dividend of $0.23 per share, yielding about 3.0% annualized.

California Public Employees Retirement System trimmed its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,961,193 shares of the company's stock after selling 375,964 shares during the period. California Public Employees Retirement System owned 0.22% of Keurig Dr Pepper worth $77,968,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KDP. Salomon & Ludwin LLC bought a new stake in Keurig Dr Pepper in the 4th quarter valued at $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Keurig Dr Pepper by 102,300.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company's stock worth $34,000 after purchasing an additional 1,023 shares during the period. Rossby Financial LCC boosted its position in Keurig Dr Pepper by 45.1% during the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock worth $31,000 after purchasing an additional 339 shares during the period. Activest Wealth Management increased its holdings in shares of Keurig Dr Pepper by 5,642.1% in the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at about $31,000. 93.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KDP shares. JPMorgan Chase & Co. raised their target price on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. UBS Group upped their price target on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday. Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Zacks Research downgraded shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a report on Wednesday, July 1st. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $33.07.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $30.91 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The firm's 50 day moving average is $30.79 and its 200-day moving average is $28.84. The stock has a market capitalization of $42.05 billion, a PE ratio of 22.90, a P/E/G ratio of 1.41 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 3.0%. Keurig Dr Pepper's payout ratio is currently 68.15%.

Keurig Dr Pepper Profile

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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