New York State Common Retirement Fund Increases Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

New York State Common Retirement Fund raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,545,438 shares of the company’s stock after purchasing an additional 61,800 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Keurig Dr Pepper worth $49,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $2,557,000. Bleakley Financial Group LLC boosted its stake in shares of Keurig Dr Pepper by 6.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 9,553 shares of the company’s stock worth $358,000 after acquiring an additional 574 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Keurig Dr Pepper by 343.6% during the 3rd quarter. Blue Trust Inc. now owns 3,766 shares of the company’s stock worth $141,000 after acquiring an additional 2,917 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Keurig Dr Pepper by 14.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,739 shares of the company’s stock worth $477,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Keurig Dr Pepper by 6.6% during the 3rd quarter. Signaturefd LLC now owns 11,517 shares of the company’s stock worth $432,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

KDP has been the topic of several research analyst reports. Barclays decreased their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. UBS Group reduced their target price on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler initiated coverage on Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group reduced their target price on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Keurig Dr Pepper Trading Up 1.0 %

KDP stock opened at $32.78 on Thursday. The company has a market cap of $44.46 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.31 and a beta of 0.61. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $31.80 and a 200-day simple moving average of $33.96. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.81%. Keurig Dr Pepper’s payout ratio is 55.76%.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the acquisition, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

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.