State Board of Administration of Florida Retirement System boosted its holdings in shares of Keurig Dr Pepper Inc (NYSE:KDP) by 8.7% during the 1st quarter, HoldingsChannel reports. The fund owned 264,594 shares of the company’s stock after purchasing an additional 21,210 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Keurig Dr Pepper were worth $7,401,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of KDP. JPMorgan Chase & Co. acquired a new position in shares of Keurig Dr Pepper during the third quarter worth about $135,460,000. Bank of New York Mellon Corp acquired a new position in shares of Keurig Dr Pepper during the third quarter worth about $14,976,000. AQR Capital Management LLC acquired a new position in shares of Keurig Dr Pepper during the third quarter worth about $800,000. Neuberger Berman Group LLC acquired a new position in shares of Keurig Dr Pepper during the third quarter worth about $671,000. Finally, Morgan Stanley acquired a new position in shares of Keurig Dr Pepper during the third quarter worth about $21,355,000. 12.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KDP opened at $29.07 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.23 and a debt-to-equity ratio of 0.58. The company has a market cap of $41.16 billion, a P/E ratio of 27.95, a PEG ratio of 1.56 and a beta of 0.47. Keurig Dr Pepper Inc has a 1 year low of $20.46 and a 1 year high of $124.36.
Keurig Dr Pepper (NYSE:KDP) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.54 billion. Keurig Dr Pepper had a net margin of 9.39% and a return on equity of 8.95%. The business’s revenue was up 164.1% compared to the same quarter last year. On average, equities analysts predict that Keurig Dr Pepper Inc will post 1.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, July 3rd. Keurig Dr Pepper’s payout ratio is 57.69%.
A number of brokerages have recently issued reports on KDP. BMO Capital Markets boosted their price target on shares of Keurig Dr Pepper from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. ValuEngine raised shares of Keurig Dr Pepper from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Morgan Stanley downgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “underweight” rating and set a $27.30 price objective on the stock. in a report on Thursday, April 11th. Finally, Barclays reissued a “buy” rating and set a $31.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.32.
In other news, Director Olivier Goudet acquired 20,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $25.43 per share, with a total value of $508,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Angela A. Stephens acquired 11,535 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $25.69 per share, for a total transaction of $296,334.15. The disclosure for this purchase can be found here. Insiders have purchased 49,285 shares of company stock worth $1,286,064 in the last three months. Insiders own 0.44% of the company’s stock.
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Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
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