Illinois Municipal Retirement Fund Grows Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Illinois Municipal Retirement Fund lifted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 13.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 400,171 shares of the company’s stock after buying an additional 48,568 shares during the period. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $12,273,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Morningstar Investment Management LLC grew its stake in shares of Keurig Dr Pepper by 1.1% during the fourth quarter. Morningstar Investment Management LLC now owns 31,543 shares of the company’s stock worth $1,051,000 after acquiring an additional 328 shares during the last quarter. Kentucky Retirement Systems grew its position in Keurig Dr Pepper by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 80,555 shares of the company’s stock worth $2,684,000 after purchasing an additional 344 shares during the last quarter. Czech National Bank increased its stake in Keurig Dr Pepper by 0.3% during the 4th quarter. Czech National Bank now owns 176,335 shares of the company’s stock valued at $5,875,000 after purchasing an additional 502 shares in the last quarter. US Bancorp DE raised its holdings in shares of Keurig Dr Pepper by 0.4% in the fourth quarter. US Bancorp DE now owns 121,107 shares of the company’s stock worth $4,035,000 after buying an additional 503 shares during the last quarter. Finally, Marco Investment Management LLC lifted its stake in shares of Keurig Dr Pepper by 2.7% during the fourth quarter. Marco Investment Management LLC now owns 20,650 shares of the company’s stock worth $688,000 after buying an additional 550 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KDP. UBS Group raised their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays raised their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their target price for the company from $27.00 to $34.00 in a research report on Monday, June 17th. JPMorgan Chase & Co. reduced their price target on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group dropped their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Insider Activity

In other news, insider Patrick Minogue sold 17,293 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $33.59, for a total value of $580,871.87. Following the sale, the insider now owns 67,103 shares in the company, valued at $2,253,989.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Keurig Dr Pepper news, insider Roger Frederick Johnson sold 31,227 shares of Keurig Dr Pepper stock in a transaction on Friday, April 26th. The shares were 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 of the company’s stock, valued at approximately $3,382,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick Minogue sold 17,293 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $33.59, for a total transaction of $580,871.87. Following the sale, the insider now directly owns 67,103 shares of the company’s stock, valued at approximately $2,253,989.77. The disclosure for this sale can be found here. Insiders have sold 81,520 shares of company stock worth $2,750,739 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Stock Performance

KDP traded up $0.19 on Friday, reaching $32.62. The stock had a trading volume of 4,638,680 shares, compared to its average volume of 7,410,676. The business’s 50-day moving average price is $33.80 and its two-hundred day moving average price is $32.09. The company has a market cap of $44.22 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.62. Keurig Dr Pepper Inc. has a 12-month low of $27.66 and a 12-month high of $35.00. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, June 28th. Keurig Dr Pepper’s payout ratio is 55.48%.

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.