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

State of Michigan Retirement System boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,600 shares of the company’s stock after purchasing an additional 17,500 shares during the quarter. State of Michigan Retirement System’s holdings in Keurig Dr Pepper were worth $9,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KDP. Perigon Wealth Management LLC grew its stake in shares of Keurig Dr Pepper by 1.2% in the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after buying an additional 342 shares during the last quarter. Custom Index Systems LLC boosted its holdings in Keurig Dr Pepper by 5.3% in the fourth quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock worth $228,000 after acquiring an additional 357 shares in the last quarter. First Hawaiian Bank grew its stake in shares of Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock worth $250,000 after acquiring an additional 384 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Keurig Dr Pepper by 2.9% during the third quarter. TD Private Client Wealth LLC now owns 14,198 shares of the company’s stock valued at $532,000 after acquiring an additional 400 shares in the last quarter. Finally, CX Institutional boosted its stake in Keurig Dr Pepper by 5.0% in the 4th quarter. CX Institutional now owns 8,534 shares of the company’s stock worth $274,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Down 0.9 %

Keurig Dr Pepper stock opened at $33.30 on Thursday. Keurig Dr Pepper Inc. has a 52-week low of $28.62 and a 52-week high of $38.28. The company has a market cap of $45.18 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.42 and a beta of 0.62. 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 50-day simple moving average of $32.01 and a two-hundred day simple moving average of $33.89.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.76%. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Wall Street Analyst Weigh In

KDP has been the subject of a number of analyst reports. Piper Sandler began coverage on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. TD Cowen decreased their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their target price for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Insider Activity at Keurig Dr Pepper

In other news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.05, for a total value of $408,600.00. Following the completion of the sale, the insider now directly owns 187,537 shares of the company’s stock, valued at $6,385,634.85. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert James Gamgort sold 416,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the sale, the chairman now owns 3,237,066 shares in the company, valued at $110,998,993.14. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,385,350 shares of company stock worth $2,755,891,890. Corporate 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.