New York State Teachers Retirement System Increases Stock Position in Keurig Dr Pepper, Inc $KDP

New York State Teachers Retirement System increased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 834,400 shares of the company’s stock after purchasing an additional 15,523 shares during the period. New York State Teachers Retirement System’s holdings in Keurig Dr Pepper were worth $21,970,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Keurig Dr Pepper by 290.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after purchasing an additional 39,156 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in Keurig Dr Pepper in the third quarter valued at about $2,551,000. Ossiam grew its stake in Keurig Dr Pepper by 508.0% in the third quarter. Ossiam now owns 726,288 shares of the company’s stock valued at $18,528,000 after purchasing an additional 606,826 shares during the last quarter. Merit Financial Group LLC raised its holdings in Keurig Dr Pepper by 194.6% in the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock worth $2,438,000 after purchasing an additional 57,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after purchasing an additional 57,797 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $33.30 on Friday. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94. The firm has a market capitalization of $45.31 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.52 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The stock’s 50-day simple moving average is $30.34 and its 200-day simple moving average is $28.64.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. Keurig Dr Pepper’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. As a group, equities analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. Keurig Dr Pepper’s dividend payout ratio is presently 68.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Evercore set a $30.00 target price on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Barclays upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. Finally, UBS Group lifted their price target on shares of Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Hold” and an average target price of $32.40.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.