Keurig Dr Pepper, Inc (NASDAQ:KDP) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its stake in Keurig Dr Pepper, Inc by 28.9%, owning 678,610 shares valued at $23.22 million after selling 275,470 shares.
• Several institutional investors, including Townsquare Capital and Commerce Bank, have recently increased their stakes in Keurig Dr Pepper, indicating continued interest from the investment community.
• The stock has a consensus rating of "Moderate Buy" among analysts, with a price target range from $39.00 to $42.00, reflecting positive market expectations for the company.

Public Sector Pension Investment Board lowered its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 678,610 shares of the company's stock after selling 275,470 shares during the period. Public Sector Pension Investment Board's holdings in Keurig Dr Pepper were worth $23,222,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CCM Investment Group LLC bought a new stake in shares of Keurig Dr Pepper in the first quarter worth about $1,491,000. Nuveen LLC bought a new stake in Keurig Dr Pepper during the 1st quarter valued at approximately $24,577,000. Aigen Investment Management LP bought a new stake in Keurig Dr Pepper during the 1st quarter valued at approximately $213,000. King Luther Capital Management Corp boosted its position in Keurig Dr Pepper by 40.6% during the 1st quarter. King Luther Capital Management Corp now owns 2,064,041 shares of the company's stock valued at $70,631,000 after acquiring an additional 596,423 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Keurig Dr Pepper by 1.7% during the 1st quarter. Invesco Ltd. now owns 21,973,128 shares of the company's stock valued at $751,920,000 after acquiring an additional 367,518 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Wall Street Analyst Weigh In

KDP has been the topic of a number of analyst reports. UBS Group dropped their price target on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Barclays boosted their target price on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Keurig Dr Pepper has an average rating of "Moderate Buy" and a consensus price target of $39.77.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the firm'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 value of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares in the company, valued at $2,777,320.26. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock worth $22,235,760 over the last three months. Corporate insiders own 0.40% of the company's stock.

Keurig Dr Pepper Trading Up 0.4%

Shares of NASDAQ:KDP traded up $0.15 during trading on Friday, reaching $34.78. 6,242,847 shares of the company were exchanged, compared to its average volume of 11,978,206. The firm has a market capitalization of $47.25 billion, a PE ratio of 31.05, a P/E/G ratio of 2.54 and a beta of 0.45. The business's fifty day simple moving average is $33.46 and its 200-day simple moving average is $33.50. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40.

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

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is 82.14%.

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.