Keurig Dr Pepper, Inc $KDP Stock Holdings Lifted by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama increased its Keurig Dr Pepper stake by 664% in the third quarter, adding about 1.90 million shares to hold roughly 2.18 million shares valued at $66.3 million.
• Keurig Dr Pepper reported quarterly EPS of $0.66, beating the $0.62 consensus, while revenue of $7.34 billion slightly exceeded estimates and rose 70.6% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $37.29. The company’s quarterly dividend was $0.23 per share, equivalent to a 2.5% annualized yield.

Retirement Systems of Alabama boosted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 664.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,183,609 shares of the company's stock after purchasing an additional 1,897,787 shares during the quarter. Retirement Systems of Alabama owned about 0.16% of Keurig Dr Pepper worth $66,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fulcrum Asset Management LLP grew its stake in Keurig Dr Pepper by 1,691.7% during the third quarter. Fulcrum Asset Management LLP now owns 3,225 shares of the company's stock worth $100,000 after buying an additional 3,045 shares in the last quarter. Brighton Jones LLC raised its position in shares of Keurig Dr Pepper by 4.4% in the 3rd quarter. Brighton Jones LLC now owns 38,525 shares of the company's stock valued at $1,169,000 after buying an additional 1,634 shares in the last quarter. Candriam S.C.A. raised its position in shares of Keurig Dr Pepper by 1.5% in the 3rd quarter. Candriam S.C.A. now owns 152,232 shares of the company's stock valued at $4,636,000 after buying an additional 2,316 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Keurig Dr Pepper by 9.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 147,706 shares of the company's stock valued at $4,481,000 after buying an additional 12,279 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Keurig Dr Pepper by 3.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 721,926 shares of the company's stock worth $21,903,000 after acquiring an additional 22,082 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 0.8%

Shares of NASDAQ KDP opened at $36.94 on Tuesday. The company has a market cap of $50.27 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 1.75 and a beta of 0.35. The company has a current ratio of 0.52, a quick ratio of 0.28 and a debt-to-equity ratio of 0.73. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $37.88. The stock has a 50-day moving average price of $32.96 and a two-hundred day moving average price of $30.25.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.04. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.33 billion. Keurig Dr Pepper had a net margin of 7.12% and a return on equity of 11.27%. The firm's quarterly revenue was up 70.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. As a group, analysts forecast that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were given a $0.23 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 84.40%.

Analyst Ratings Changes

Several analysts recently issued reports on KDP shares. Evercore increased their price target on shares of Keurig Dr Pepper from $30.00 to $32.00 in a research report on Thursday, October 8th. Morgan Stanley boosted their price objective on shares of Keurig Dr Pepper from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, November 4th. TD Cowen upped their target price on Keurig Dr Pepper from $33.00 to $35.00 and gave the stock a "hold" rating in a research note on Wednesday, November 4th. Piper Sandler restated an "overweight" rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.29.

Insider Buying and Selling at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 9,500 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the completion of the transaction, the vice president directly owned 55,786 shares in the company, valued at approximately $1,824,202.20. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total value of $390,600.00. Following the completion of the transaction, the insider owned 84,171 shares of the company's stock, valued at $2,739,766.05. The trade was a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.34% of the company's stock.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.

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