Arizona State Retirement System Acquires 16,684 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Arizona State Retirement System grew its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,581 shares of the company's stock after acquiring an additional 16,684 shares during the quarter. Arizona State Retirement System's holdings in Keurig Dr Pepper were worth $10,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of KDP. FMR LLC boosted its stake in Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company's stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares during the last quarter. State Street Corp lifted its holdings in shares of Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company's stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Keurig Dr Pepper by 2.7% in the third quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company's stock valued at $841,886,000 after purchasing an additional 591,316 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Keurig Dr Pepper by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,378,207 shares of the company's stock valued at $488,463,000 after buying an additional 59,464 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Keurig Dr Pepper by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 7,304,769 shares of the company's stock worth $234,629,000 after buying an additional 342,715 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KDP. JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. UBS Group reissued a "buy" rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Wells Fargo & Company restated an "overweight" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Barclays set a $39.00 price objective on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Finally, TD Cowen cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.23.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP traded down $0.80 during trading hours on Monday, reaching $32.54. The stock had a trading volume of 21,287,580 shares, compared to its average volume of 9,206,435. The stock has a market cap of $44.15 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. The stock has a 50 day simple moving average of $32.05 and a 200 day simple moving average of $33.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a 12-month low of $28.62 and a 12-month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $0.55 EPS. Keurig Dr Pepper's revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.83%. Keurig Dr Pepper's payout ratio is 87.62%.

Insider Buying and Selling

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.05, for a total transaction of $408,600.00. Following the transaction, the insider now directly owns 187,537 shares of the company's stock, valued at approximately $6,385,634.85. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Angela A. Stephens sold 7,350 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 74,587 shares of the company's stock, valued at approximately $2,548,637.79. This represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,385,350 shares of company stock valued at $2,755,891,890. Corporate insiders own 1.00% of the company's stock.

Keurig Dr Pepper Profile

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.