Illinois Municipal Retirement Fund Has $21.38 Million Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Illinois Municipal Retirement Fund boosted its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 624,753 shares of the company's stock after purchasing an additional 39,967 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Keurig Dr Pepper were worth $21,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. lifted its stake in shares of Keurig Dr Pepper by 51.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,074,370 shares of the company's stock valued at $36,765,000 after purchasing an additional 364,538 shares during the period. Perigon Wealth Management LLC increased its holdings in Keurig Dr Pepper by 1.7% in the first quarter. Perigon Wealth Management LLC now owns 29,032 shares of the company's stock valued at $993,000 after purchasing an additional 487 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in Keurig Dr Pepper by 32.2% in the first quarter. HBK Sorce Advisory LLC now owns 23,975 shares of the company's stock valued at $820,000 after purchasing an additional 5,842 shares during the last quarter. Golden State Equity Partners lifted its stake in Keurig Dr Pepper by 16.9% in the first quarter. Golden State Equity Partners now owns 15,568 shares of the company's stock valued at $533,000 after buying an additional 2,248 shares during the period. Finally, Strategic Investment Advisors MI bought a new position in Keurig Dr Pepper during the first quarter worth about $491,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of recent analyst reports. Barclays lowered their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price target for the company from $36.00 to $42.00 in a report on Friday, April 25th. Argus initiated coverage on Keurig Dr Pepper in a research note on Wednesday, April 16th. They set a "buy" rating and a $40.00 price objective on the stock. UBS Group lifted their target price on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $38.00 to $40.00 in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.92.

Keurig Dr Pepper Stock Down 0.6%

Shares of KDP stock traded down $0.19 on Friday, hitting $32.85. 10,275,710 shares of the stock were exchanged, compared to its average volume of 10,880,980. The business has a 50-day moving average of $33.58 and a 200 day moving average of $33.10. Keurig Dr Pepper, Inc has a fifty-two week low of $30.12 and a fifty-two week high of $38.28. The firm has a market capitalization of $44.62 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The business's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 83.64%.

Insider Activity at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total value of $496,480.00. Following the completion of the sale, the vice president now owns 62,411 shares of the company's stock, valued at approximately $2,136,952.64. This represents a 18.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the transaction, the insider now directly owns 154,511 shares of the company's stock, valued at $5,499,046.49. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 698,500 shares of company stock valued at $23,594,400. Corporate insiders own 0.40% of the company's stock.

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.