Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 59,824 shares of the company’s stock after selling 753 shares during the period. Maryland State Retirement & Pension System’s holdings in Keurig Dr Pepper were worth $1,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC boosted its position in shares of Keurig Dr Pepper by 4.1% during the 3rd quarter. Caprock Group LLC now owns 22,948 shares of the company’s stock worth $866,000 after acquiring an additional 897 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Keurig Dr Pepper during the 3rd quarter worth about $2,513,000. PNC Financial Services Group Inc. boosted its position in shares of Keurig Dr Pepper by 11.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 158,365 shares of the company’s stock worth $5,936,000 after acquiring an additional 15,779 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Keurig Dr Pepper by 18.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,868 shares of the company’s stock worth $220,000 after acquiring an additional 928 shares in the last quarter. Finally, Cornerstone Advisors LLC boosted its position in shares of Keurig Dr Pepper by 11.2% during the 3rd quarter. Cornerstone Advisors LLC now owns 49,800 shares of the company’s stock worth $1,867,000 after acquiring an additional 5,000 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KDP. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Piper Sandler assumed coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, TD Cowen decreased their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.23.

Keurig Dr Pepper Stock Up 0.4 %

KDP opened at $33.55 on Friday. The business has a 50 day moving average price of $32.44 and a two-hundred day moving average price of $33.68. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a market cap of $45.52 billion, a PE ratio of 20.33, a P/E/G ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52 week low of $29.53 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. As a group, research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The firm 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 2.74%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is 87.62%.

Insider Transactions at Keurig Dr Pepper

In other news, Chairman Robert James Gamgort sold 416,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the transaction, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at approximately $110,998,993.14. This represents a 11.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the transaction, the insider now directly owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,397,350 shares of company stock valued at $2,756,292,570. Corporate insiders own 1.00% of the company’s stock.

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.