Louisiana State Employees Retirement System Grows Position in Keurig Dr Pepper, Inc $KDP

Louisiana State Employees Retirement System raised its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,000 shares of the company’s stock after buying an additional 7,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Keurig Dr Pepper were worth $5,653,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock valued at $4,962,338,000 after buying an additional 25,425,644 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock valued at $1,330,565,000 after buying an additional 20,196,835 shares in the last quarter. Invesco Ltd. grew its holdings in Keurig Dr Pepper by 1.7% during the 1st quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock valued at $751,920,000 after buying an additional 367,518 shares in the last quarter. Northern Trust Corp grew its holdings in Keurig Dr Pepper by 0.8% during the 1st quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock valued at $469,248,000 after buying an additional 114,044 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Keurig Dr Pepper by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company’s stock valued at $351,927,000 after buying an additional 358,350 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $25.58 on Thursday. Keurig Dr Pepper, Inc has a 52-week low of $25.03 and a 52-week high of $37.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The firm has a market capitalization of $34.75 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.39 and a beta of 0.43. The stock has a 50 day moving average price of $29.67 and a 200 day moving average price of $32.36.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $0.45 EPS. Keurig Dr Pepper’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 82.14%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KDP. Bank of America dropped their target price on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. TD Cowen dropped their target price on Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. Citigroup dropped their target price on Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. dropped their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, July 17th. Finally, HSBC reiterated a “hold” rating and issued a $30.00 target price (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company’s stock, valued at $2,777,320.26. The trade was a 12.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert James Gamgort sold 7,601 shares of Keurig Dr Pepper stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director directly owned 2,284,568 shares of the company’s stock, valued at approximately $82,038,836.88. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,601 shares of company stock valued at $14,421,512. 0.40% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Company 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.