Strs Ohio Takes $10.94 Million Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Strs Ohio has acquired a new position in Keurig Dr Pepper during the first quarter, purchasing 319,658 shares valued at approximately $10.94 million.
• Insiders at Keurig Dr Pepper have sold significant amounts of stock, with one insider selling 12,000 shares for a total of $403,920, reducing their ownership by 12.70%.
• Analysts have placed varying target prices on Keurig Dr Pepper, with Barclays raising its target from $37.00 to $39.00, while HSBC lowered its target from $42.00 to $30.00.

Strs Ohio purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 319,658 shares of the company's stock, valued at approximately $10,939,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock worth $4,962,338,000 after acquiring an additional 25,425,644 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock worth $1,330,565,000 after acquiring an additional 20,196,835 shares during the period. Invesco Ltd. boosted its holdings in shares of Keurig Dr Pepper by 1.7% in the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company's stock worth $751,920,000 after buying an additional 367,518 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Keurig Dr Pepper by 0.8% in the first quarter. Northern Trust Corp now owns 13,712,677 shares of the company's stock worth $469,248,000 after buying an additional 114,044 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Keurig Dr Pepper by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company's stock worth $351,927,000 after buying an additional 358,350 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KDP. Barclays raised their price objective on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. JPMorgan Chase & Co. lowered their price target on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. HSBC reaffirmed a "hold" rating and set a $30.00 price target (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Citigroup lowered their price target on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group set a $41.00 price target on shares of Keurig Dr Pepper in a report on Monday, August 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.77.

Insider Buying and Selling at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 7,601 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director owned 2,284,568 shares in the company, valued at approximately $82,038,836.88. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction 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 owned 82,511 shares in the company, valued at $2,777,320.26. This trade represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 459,601 shares of company stock worth $15,228,872 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of KDP stock traded down $0.06 during mid-day trading on Thursday, hitting $27.20. The company had a trading volume of 12,359,804 shares, compared to its average volume of 25,237,798. The stock's 50 day moving average price is $31.81 and its 200-day moving average price is $33.08. Keurig Dr Pepper, Inc has a 52-week low of $26.58 and a 52-week high of $38.28. The company has a market capitalization of $36.95 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.50 and a beta of 0.47. 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 announced 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 net margin of 9.75% and a return on equity of 11.05%. The company had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Keurig Dr Pepper's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 26th. Keurig Dr Pepper's payout ratio is currently 82.14%.

Keurig Dr Pepper Company 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.