California Public Employees Retirement System Raises Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

California Public Employees Retirement System increased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,955,620 shares of the company's stock after purchasing an additional 117,753 shares during the quarter. California Public Employees Retirement System owned 0.37% of Keurig Dr Pepper worth $159,175,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Keurig Dr Pepper by 8.4% in 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 purchasing an additional 242,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Keurig Dr Pepper by 53.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock valued at $10,400,000 after buying an additional 112,819 shares during the period. Franklin Resources Inc. boosted its stake 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 buying an additional 41,466 shares during the last quarter. Swedbank AB grew its holdings in Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company's stock worth $23,994,000 after acquiring an additional 13,179 shares during the period. Finally, RWC Asset Management LLP raised its position 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 acquiring an additional 398,916 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

NASDAQ:KDP traded down $1.82 during trading hours on Friday, hitting $33.81. 16,131,885 shares of the stock were exchanged, compared to its average volume of 9,742,775. The firm's fifty day moving average price is $33.05 and its 200 day moving average price is $33.48. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28. The company has a market cap of $45.87 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio is currently 87.62%.

Wall Street Analysts Forecast Growth

KDP has been the topic of several recent research reports. Piper Sandler assumed coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They issued a "neutral" rating and a $35.00 price objective on the stock. Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a report on Thursday, February 27th. TD Cowen cut their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $38.00 to $40.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.38.

Insider Buying and Selling

In other news, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $34.78, for a total transaction of $417,360.00. Following the completion of the sale, the insider now directly owns 166,511 shares of the company's stock, valued at $5,791,252.58. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,409,350 shares of company stock worth $2,756,709,930. 1.00% of the stock is owned by insiders.

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.