Public Employees Retirement System of Ohio Raises Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Public Employees Retirement System of Ohio increased its stake in Keurig Dr Pepper by 7.6%, holding 528,216 shares valued at $17.46 million after purchasing additional shares in the second quarter.
• Analyst ratings for Keurig Dr Pepper have shifted, with Hsbc Global Res downgrading shares from a "strong-buy" to a "hold," while other analysts have also reduced their price targets.
• Keurig Dr Pepper recently announced a $0.23 quarterly dividend, representing a 3.6% yield, with a payout expected on October 10th for shareholders of record as of September 26th.

Public Employees Retirement System of Ohio raised its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 528,216 shares of the company's stock after purchasing an additional 37,394 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Keurig Dr Pepper were worth $17,463,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Commerce Bank increased its position in Keurig Dr Pepper by 1.6% in the 1st quarter. Commerce Bank now owns 21,513 shares of the company's stock valued at $736,000 after acquiring an additional 340 shares during the period. First American Bank raised its holdings in Keurig Dr Pepper by 0.6% during the first quarter. First American Bank now owns 59,564 shares of the company's stock worth $2,038,000 after purchasing an additional 344 shares in the last quarter. Allworth Financial LP raised its stake in shares of Keurig Dr Pepper by 3.8% during the 1st quarter. Allworth Financial LP now owns 10,242 shares of the company's stock worth $353,000 after buying an additional 371 shares in the last quarter. Citadel Investment Advisory Inc. lifted its holdings in Keurig Dr Pepper by 6.6% in the first quarter. Citadel Investment Advisory Inc. now owns 6,445 shares of the company's stock valued at $221,000 after acquiring an additional 400 shares during the period. Finally, Hartford Funds Management Co LLC boosted its position in shares of Keurig Dr Pepper by 1.2% during the 1st quarter. Hartford Funds Management Co LLC now owns 34,497 shares of the company's stock worth $1,180,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KDP. Hsbc Global Res downgraded shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. BNP Paribas Exane downgraded shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a research report on Monday. UBS Group lowered their price target on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, August 27th. Wells Fargo & Company dropped their price objective on Keurig Dr Pepper from $40.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Citigroup reduced their price objective on Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.23.

Keurig Dr Pepper Trading Down 1.9%

Shares of Keurig Dr Pepper stock opened at $25.75 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $25.67 and a 1 year high of $37.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The business has a 50 day moving average price of $31.11 and a 200 day moving average price of $32.84. The company has a market capitalization of $34.98 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.44 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business posted $0.45 earnings per share. Keurig Dr Pepper's revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, September 26th. Keurig Dr Pepper's dividend payout ratio is 82.14%.

Insider Activity

In other news, Director Robert James Gamgort sold 7,601 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total transaction of $272,951.91. Following the completion of the sale, the director directly owned 2,284,568 shares in the company, valued at $82,038,836.88. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the transaction, the insider directly owned 82,511 shares in the company, valued at $2,777,320.26. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 447,601 shares of company stock worth $14,825,192 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Keurig Dr Pepper Profile

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.

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