Strs Ohio Cuts Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Strs Ohio decreased its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 428,551 shares of the company’s stock after selling 12,521 shares during the period. Strs Ohio’s holdings in Keurig Dr Pepper were worth $14,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in Keurig Dr Pepper by 24.3% during the fourth quarter. DAVENPORT & Co LLC now owns 2,604,968 shares of the company’s stock valued at $86,820,000 after purchasing an additional 509,393 shares during the period. Arizona State Retirement System lifted its position in Keurig Dr Pepper by 14.2% during the fourth quarter. Arizona State Retirement System now owns 294,833 shares of the company’s stock valued at $9,824,000 after purchasing an additional 36,560 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Keurig Dr Pepper by 43.8% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,099,145 shares of the company’s stock valued at $36,624,000 after purchasing an additional 334,954 shares during the period. Coldstream Capital Management Inc. bought a new position in Keurig Dr Pepper during the third quarter valued at approximately $245,000. Finally, Morgan Stanley lifted its position in Keurig Dr Pepper by 15.0% during the third quarter. Morgan Stanley now owns 7,994,795 shares of the company’s stock valued at $252,396,000 after purchasing an additional 1,044,167 shares during the period. Institutional investors own 85.23% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In related news, Director Robert S. Singer sold 12,132 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total value of $354,861.00. Following the completion of the sale, the director now directly owns 37,643 shares in the company, valued at $1,101,057.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robert S. Singer sold 12,132 shares of Keurig Dr Pepper stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.25, for a total transaction of $354,861.00. Following the completion of the sale, the director now directly owns 37,643 shares in the company, valued at $1,101,057.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert James Gamgort bought 171,821 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $29.10 per share, with a total value of $4,999,991.10. Following the completion of the transaction, the chief executive officer now owns 3,179,917 shares of the company’s stock, valued at approximately $92,535,584.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 100,012,132 shares of company stock valued at $2,890,354,861. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KDP. Morgan Stanley lowered their price objective on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Jefferies Financial Group decreased their price target on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. HSBC began coverage on shares of Keurig Dr Pepper in a research report on Friday, December 22nd. They issued a “hold” rating and a $37.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, Wedbush decreased their price target on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.45.

Keurig Dr Pepper Stock Performance

KDP opened at $30.44 on Wednesday. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.30 and a beta of 0.66. The company has a fifty day moving average of $30.26 and a 200 day moving average of $31.00. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $35.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.38.

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

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.215 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.86 annualized dividend and a yield of 2.83%. Keurig Dr Pepper’s payout ratio is 55.48%.

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.