State of Michigan Retirement System Increases Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of Michigan Retirement System grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 285,400 shares of the company’s stock after purchasing an additional 9,800 shares during the quarter. State of Michigan Retirement System’s holdings in Keurig Dr Pepper were worth $8,753,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Hennessy Advisors Inc. acquired a new position in Keurig Dr Pepper during the first quarter worth $5,011,000. Ballentine Partners LLC boosted its position in shares of Keurig Dr Pepper by 9.1% during the 1st quarter. Ballentine Partners LLC now owns 15,381 shares of the company’s stock valued at $472,000 after acquiring an additional 1,281 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Keurig Dr Pepper by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 98,435 shares of the company’s stock valued at $3,019,000 after purchasing an additional 950 shares during the period. Legacy Financial Group LLC acquired a new stake in Keurig Dr Pepper during the first quarter worth about $264,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Keurig Dr Pepper by 14.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 93,607 shares of the company’s stock valued at $2,871,000 after purchasing an additional 11,917 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Down 0.2 %

Shares of KDP traded down $0.06 during midday trading on Tuesday, hitting $32.78. The company had a trading volume of 9,243,300 shares, compared to its average volume of 9,317,968. Keurig Dr Pepper Inc. has a 1 year low of $27.66 and a 1 year high of $35.00. The firm has a market capitalization of $44.44 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.52 and a beta of 0.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 0.51. The company’s 50-day simple moving average is $33.95 and its 200-day simple moving average is $32.09.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.41 billion. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. As a group, sell-side analysts expect that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.215 per share. The ex-dividend date is Friday, June 28th. This represents a $0.86 annualized dividend and a dividend yield of 2.62%. Keurig Dr Pepper’s dividend payout ratio is currently 55.48%.

Insider Activity at Keurig Dr Pepper

In other news, insider Roger Frederick Johnson sold 31,227 shares of Keurig Dr Pepper stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $33.82, for a total transaction of $1,056,097.14. Following the sale, the insider now owns 100,000 shares in the company, valued at $3,382,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Roger Frederick Johnson sold 31,227 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $33.82, for a total value of $1,056,097.14. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at approximately $3,382,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Andrew Archambault sold 8,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $34.19, for a total transaction of $273,520.00. Following the transaction, the insider now directly owns 12,565 shares in the company, valued at $429,597.35. The disclosure for this sale can be found here. Insiders sold 81,520 shares of company stock valued at $2,750,739 over the last three months. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BNP Paribas began coverage on shares of Keurig Dr Pepper in a research report on Monday, June 24th. They set a “neutral” rating and a $36.00 price target on the stock. Wells Fargo & Company raised their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Barclays boosted their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Truist Financial raised shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their price objective for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.57.

Keurig Dr Pepper 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.