New York State Common Retirement Fund Sells 98,205 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

New York State Common Retirement Fund cut its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,408,031 shares of the company’s stock after selling 98,205 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Keurig Dr Pepper worth $46,916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KDP. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Keurig Dr Pepper by 6.2% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 12,187 shares of the company’s stock worth $407,000 after acquiring an additional 709 shares during the period. Handelsbanken Fonder AB boosted its position in Keurig Dr Pepper by 28.4% during the fourth quarter. Handelsbanken Fonder AB now owns 508,089 shares of the company’s stock worth $16,930,000 after purchasing an additional 112,419 shares during the period. CWM LLC increased its holdings in shares of Keurig Dr Pepper by 17.6% in the fourth quarter. CWM LLC now owns 18,913 shares of the company’s stock valued at $630,000 after purchasing an additional 2,830 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Keurig Dr Pepper by 12.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 115,359 shares of the company’s stock worth $3,844,000 after buying an additional 12,902 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Keurig Dr Pepper by 8.7% during the 4th quarter. abrdn plc now owns 1,869,431 shares of the company’s stock worth $62,289,000 after buying an additional 150,031 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on KDP. Jefferies Financial Group cut their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wedbush dropped their target price on Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Barclays upped their price target on shares of Keurig Dr Pepper from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Morgan Stanley cut their price objective on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Finally, Royal Bank of Canada dropped their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.45.

Insider Transactions at Keurig Dr Pepper

In related news, Director Robert S. Singer sold 12,132 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.25, for a total transaction of $354,861.00. Following the sale, the director now directly owns 37,643 shares in the company, valued at approximately $1,101,057.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Keurig Dr Pepper news, Director Robert S. Singer sold 12,132 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total transaction of $354,861.00. Following the transaction, the director now directly owns 37,643 shares of the company’s stock, valued at approximately $1,101,057.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Priyadarshi Sudhanshu purchased 85,910 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $29.10 per share, for a total transaction of $2,499,981.00. Following the transaction, the chief financial officer now directly owns 218,566 shares in the company, valued at approximately $6,360,270.60. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 100,012,132 shares of company stock worth $2,890,354,861. Insiders own 0.81% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $32.34 on Thursday. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $35.99. The company has a quick ratio of 0.25, a current ratio of 0.38 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $30.30 and a 200 day simple moving average of $31.03. The company has a market cap of $44.87 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.42 and a beta of 0.66.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a net margin of 14.72% and a return on equity of 9.93%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. On average, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.91 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $0.215 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.86 annualized dividend and a yield of 2.66%. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

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.