Keurig Dr Pepper, Inc $KDP Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Keurig Dr Pepper, Inc. by 2.3%, owning 389,228 shares valued at approximately $13.3 million.
• Several institutional investors increased their stakes significantly in the same period, with China Universal Asset Management raising its holding by 51.8% and Oppenheimer Asset Management increasing its position by 656.1%.
• Wall Street analysts are optimistic about Keurig Dr Pepper, with HSBC upgrading its rating to "buy" and targeting a price increase from $36.00 to $42.00.

State of New Jersey Common Pension Fund D decreased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 389,228 shares of the company's stock after selling 9,285 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Keurig Dr Pepper were worth $13,319,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. purchased a new position in shares of Keurig Dr Pepper during the first quarter worth about $27,000. Continuum Advisory LLC boosted its stake in shares of Keurig Dr Pepper by 82.5% during the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock worth $46,000 after buying an additional 602 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Keurig Dr Pepper during the first quarter worth about $48,000. LRI Investments LLC boosted its stake in shares of Keurig Dr Pepper by 65.6% during the fourth quarter. LRI Investments LLC now owns 1,527 shares of the company's stock worth $49,000 after buying an additional 605 shares during the period. Finally, Riverview Trust Co boosted its stake in shares of Keurig Dr Pepper by 47.7% during the first quarter. Riverview Trust Co now owns 1,710 shares of the company's stock worth $59,000 after buying an additional 552 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of KDP stock traded up $0.02 during midday trading on Thursday, reaching $35.20. 6,075,495 shares of the company traded hands, compared to its average volume of 11,849,412. The firm's 50 day simple moving average is $33.63 and its two-hundred day simple moving average is $33.59. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year 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. The firm has a market cap of $47.82 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.57 and a beta of 0.45.

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

Insider Activity

In other news, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,292,169 shares in the company, valued at approximately $75,412,360.10. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director De Ven Michael G. Van purchased 15,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $33.20 per share, with a total value of $498,000.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $498,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 672,000 shares of company stock worth $22,235,760. Company insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KDP. JPMorgan Chase & Co. decreased their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their target price for the stock from $36.00 to $42.00 in a research note on Friday, April 25th. UBS Group decreased their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Barclays raised their price objective on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.77.

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.