State of Michigan Retirement System lifted its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,900 shares of the company's stock after acquiring an additional 18,300 shares during the quarter. State of Michigan Retirement System's holdings in Keurig Dr Pepper were worth $11,084,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of KDP. Proficio Capital Partners LLC purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter worth about $3,820,000. Sequoia Financial Advisors LLC boosted its stake in shares of Keurig Dr Pepper by 11.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,172 shares of the company's stock worth $455,000 after acquiring an additional 1,433 shares in the last quarter. Securian Asset Management Inc. raised its position in shares of Keurig Dr Pepper by 3.6% during the 4th quarter. Securian Asset Management Inc. now owns 60,509 shares of the company's stock worth $1,944,000 after purchasing an additional 2,103 shares during the last quarter. Swiss National Bank raised its position in shares of Keurig Dr Pepper by 1.2% during the 4th quarter. Swiss National Bank now owns 3,256,300 shares of the company's stock worth $104,592,000 after purchasing an additional 37,300 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Keurig Dr Pepper by 53.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock worth $10,400,000 after purchasing an additional 112,819 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.
Keurig Dr Pepper Stock Down 0.5%
Shares of NASDAQ KDP opened at $33.49 on Friday. The company has a 50 day simple moving average of $33.33 and a 200-day simple moving average of $33.14. The company has a market capitalization of $45.49 billion, a P/E ratio of 30.45, a P/E/G ratio of 2.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.47 and a quick ratio of 0.31. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year high of $38.28.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The business's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.
Keurig Dr Pepper Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.75%. Keurig Dr Pepper's dividend payout ratio is currently 83.64%.
Wall Street Analyst Weigh In
KDP has been the subject of several research analyst reports. UBS Group upped their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Argus initiated coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target for the company. Finally, Morgan Stanley upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $38.00 to $40.00 in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.92.
Read Our Latest Research Report on KDP
Insider Activity
In other news, Director Robert James Gamgort sold 208,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the completion of the sale, the director owned 2,638,490 shares in the company, valued at $87,334,019. This trade represents a 7.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $496,480.00. Following the transaction, the vice president directly owned 62,411 shares of the company's stock, valued at $2,136,952.64. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 698,500 shares of company stock worth $23,580,720 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.
About Keurig Dr Pepper
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report).
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