Teacher Retirement System of Texas Sells 459,195 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Teacher Retirement System of Texas lowered its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 54.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 380,214 shares of the company's stock after selling 459,195 shares during the period. Teacher Retirement System of Texas' holdings in Keurig Dr Pepper were worth $13,011,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter worth $400,000. Smartleaf Asset Management LLC boosted its position in shares of Keurig Dr Pepper by 52.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,337 shares of the company's stock valued at $171,000 after acquiring an additional 1,835 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Keurig Dr Pepper by 96.8% during the 4th quarter. Jones Financial Companies Lllp now owns 13,765 shares of the company's stock valued at $442,000 after acquiring an additional 6,769 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Keurig Dr Pepper by 10.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,608,629 shares of the company's stock valued at $212,269,000 after purchasing an additional 601,080 shares in the last quarter. Finally, Keybank National Association OH raised its stake in Keurig Dr Pepper by 27.5% in the fourth quarter. Keybank National Association OH now owns 14,911 shares of the company's stock valued at $479,000 after purchasing an additional 3,217 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP traded up $0.13 during midday trading on Monday, reaching $33.92. 8,189,243 shares of the company were exchanged, compared to its average volume of 10,911,966. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The business's fifty day moving average is $33.38 and its two-hundred day moving average is $33.11. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28. The stock has a market cap of $46.06 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 2.60 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, analysts predict 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, July 11th. Investors of record on Friday, June 27th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, June 27th. Keurig Dr Pepper's payout ratio is 83.64%.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of recent analyst reports. Argus initiated coverage on shares of Keurig Dr Pepper in a research note on Wednesday, April 16th. They issued a "buy" rating and a $40.00 target price on the stock. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and raised their price target for the company from $35.00 to $40.00 in a research report on Wednesday, April 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.92.

Insider Buying and Selling at Keurig Dr Pepper

In other news, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $34.12, for a total transaction of $7,096,960.00. Following the completion of the sale, the director owned 2,846,490 shares of the company's stock, valued at approximately $97,122,238.80. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director De Ven Michael G. Van bought 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were purchased at an average cost 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 $498,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 698,500 shares of company stock worth $23,580,720 in the last 90 days. 0.40% of the stock is currently owned by insiders.

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.