California State Teachers Retirement System lowered its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,197,061 shares of the company's stock after selling 40,664 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Keurig Dr Pepper worth $57,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Keurig Dr Pepper by 8.6% during the 1st quarter. Royal Bank of Canada now owns 2,344,606 shares of the company's stock worth $61,734,000 after acquiring an additional 186,373 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Keurig Dr Pepper by 17.6% in the 1st quarter. Maverick Capital Ltd. now owns 55,823 shares of the company's stock valued at $1,470,000 after purchasing an additional 8,369 shares during the period. SummitTX Capital L.P. lifted its stake in shares of Keurig Dr Pepper by 5.5% in the 1st quarter. SummitTX Capital L.P. now owns 41,460 shares of the company's stock valued at $1,092,000 after purchasing an additional 2,163 shares during the period. Lazard Asset Management LLC boosted its position in shares of Keurig Dr Pepper by 9.9% during the first quarter. Lazard Asset Management LLC now owns 702,373 shares of the company's stock valued at $18,493,000 after purchasing an additional 63,123 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Keurig Dr Pepper by 34.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 52,777 shares of the company's stock valued at $1,390,000 after purchasing an additional 13,630 shares in the last quarter. 93.99% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on KDP. Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a report on Wednesday, July 1st. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Citigroup lifted their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $33.40.
View Our Latest Stock Analysis on Keurig Dr Pepper
Keurig Dr Pepper Trading Up 0.4%
Keurig Dr Pepper stock opened at $31.57 on Friday. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The company has a market capitalization of $42.95 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.44 and a beta of 0.40. The business's fifty day simple moving average is $31.06 and its two-hundred day simple moving average is $29.02. 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 Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $0.23 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Keurig Dr Pepper's payout ratio is presently 68.15%.
About Keurig Dr Pepper
(
Free Report)
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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