State of Michigan Retirement System Acquires 17,500 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of Michigan Retirement System grew its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,600 shares of the company’s stock after buying an additional 17,500 shares during the period. State of Michigan Retirement System’s holdings in Keurig Dr Pepper were worth $9,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its stake in Keurig Dr Pepper by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after acquiring an additional 242,315 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Keurig Dr Pepper by 0.7% during the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock valued at $122,038,000 after purchasing an additional 22,657 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after purchasing an additional 41,466 shares during the last quarter. Swedbank AB lifted its position in shares of Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after buying an additional 13,179 shares in the last quarter. Finally, RWC Asset Management LLP boosted its stake in Keurig Dr Pepper by 34.6% during the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock valued at $49,885,000 after buying an additional 398,916 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Down 0.9 %

Shares of NASDAQ KDP opened at $33.30 on Thursday. Keurig Dr Pepper Inc. has a 1 year low of $28.62 and a 1 year high of $38.28. The firm has a 50-day simple moving average of $32.01 and a two-hundred day simple moving average of $33.89. The company has a market cap of $45.18 billion, a P/E ratio of 20.18, a PEG ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

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

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th 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 2.76%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

Insider Transactions at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 owns 187,537 shares in the company, valued at approximately $6,385,634.85. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Angela A. Stephens sold 7,350 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total value of $251,149.50. Following the transaction, the vice president now owns 74,587 shares in the company, valued at $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,385,350 shares of company stock worth $2,755,891,890. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target on the stock. Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.23.

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.