Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 77,368 shares of the company’s stock after purchasing an additional 3,680 shares during the quarter. Kentucky Retirement Systems’ holdings in Keurig Dr Pepper were worth $2,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KDP. FMR LLC lifted its position in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. State Street Corp lifted its position in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. National Bank of Canada FI lifted its position in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares during the period. King Luther Capital Management Corp lifted its position in Keurig Dr Pepper by 125.5% in the third quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company’s stock worth $51,679,000 after purchasing an additional 767,298 shares during the period. Finally, Suvretta Capital Management LLC acquired a new stake in Keurig Dr Pepper in the third quarter worth approximately $26,352,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. The trade was a 1.69 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $34.04 on Friday. The company’s fifty day moving average is $31.80 and its two-hundred day moving average is $33.95. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a market cap of $46.17 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.76%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of research analyst reports. Barclays cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group cut their price objective on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Piper Sandler assumed coverage on Keurig Dr Pepper in a research report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. TD Cowen cut their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

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.