California State Teachers Retirement System Has $2.08 Billion Stock Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• California State Teachers Retirement System increased its Keurig Dr Pepper stake by 2,997.3% in the second quarter, holding 68.05 million shares worth approximately $2.08 billion, or 5% of the company.
• Institutional investors own nearly 94% of KDP outstanding shares, with BlackRock and several other major investment firms establishing or significantly expanding positions.
• Keurig Dr Pepper reported quarterly EPS of $0.57, beating estimates, while revenue rose 75.6% year over year to $7.31 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.94.

California State Teachers Retirement System increased its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 2,997.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,048,910 shares of the company's stock after purchasing an additional 65,851,849 shares during the period. California State Teachers Retirement System owned approximately 5.00% of Keurig Dr Pepper worth $2,079,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Keurig Dr Pepper during the second quarter worth $4,697,645,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter worth about $727,667,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at about $767,105,000. Norges Bank bought a new position in shares of Keurig Dr Pepper during the 4th quarter valued at about $568,361,000. Finally, Capital International Investors grew its position in shares of Keurig Dr Pepper by 1,987.4% in the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company's stock valued at $472,193,000 after purchasing an additional 16,050,437 shares during the period. Institutional investors own 93.99% of the company's stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, Director Aaron E. Alt bought 7,862 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $31.83 per share, for a total transaction of $250,247.46. Following the completion of the transaction, the director directly owned 7,862 shares in the company, valued at approximately $250,247.46. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Angela A. Stephens sold 9,500 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total value of $310,650.00. Following the transaction, the vice president directly owned 55,786 shares of the company's stock, valued at approximately $1,824,202.20. The trade was a 14.55% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KDP. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Thursday, August 13th. Zacks Research cut Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Morgan Stanley assumed coverage on Keurig Dr Pepper in a research note on Thursday, August 20th. They issued an "overweight" rating and a $38.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.94.

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $31.39 on Friday. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $33.82. The company has a market cap of $42.72 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.48 and a beta of 0.40. The firm's fifty day moving average price is $31.17 and its two-hundred day moving average price is $29.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper's quarterly revenue was up 75.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. Equities analysts expect that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current year.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across the refreshment beverage and coffee categories. The company develops, manufactures, distributes and markets a broad portfolio of soft drinks, flavored beverages, juices, water and mixers, as well as single-serve coffee products and brewing systems.

Its beverage portfolio includes brands such as Dr Pepper, Canada Dry, 7UP, A&W, Snapple, Mott's, Bai and CORE Hydration. In coffee, Keurig Dr Pepper offers Keurig brewing systems, pods and related products under brands including Green Mountain Coffee Roasters and The Original Donut Shop.

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