Retirement Systems of Alabama Raises Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Retirement Systems of Alabama raised its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,333,563 shares of the company's stock after buying an additional 12,172 shares during the period. Retirement Systems of Alabama owned about 0.17% of Keurig Dr Pepper worth $74,954,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KDP. FMR LLC raised its stake in shares of 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 buying an additional 9,105,164 shares during the last quarter. State Street Corp boosted its holdings in Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company's stock worth $1,908,289,000 after buying an additional 4,970,467 shares during the last quarter. National Bank of Canada FI boosted its holdings in Keurig Dr Pepper by 394.3% in the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company's stock worth $91,908,000 after buying an additional 1,956,138 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Keurig Dr Pepper by 125.5% during the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company's stock worth $51,679,000 after purchasing an additional 767,298 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company's stock worth $574,146,000 after purchasing an additional 730,297 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was bought at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the acquisition, the insider now owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded up $0.04 on Friday, reaching $31.04. The company's stock had a trading volume of 7,780,873 shares, compared to its average volume of 8,124,423. The stock has a market capitalization of $42.10 billion, a P/E ratio of 18.81, a PEG ratio of 2.16 and a beta of 0.61. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. The stock's 50-day moving average is $31.98 and its two-hundred day moving average is $34.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a dividend of $0.23 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 2.96%. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KDP shares. Barclays reduced their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. UBS Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. TD Cowen dropped their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company lowered their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

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.