Retirement Systems of Alabama Sells 1,863,848 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Retirement Systems of Alabama reduced its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 44.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,321,391 shares of the company's stock after selling 1,863,848 shares during the quarter. Retirement Systems of Alabama owned 0.17% of Keurig Dr Pepper worth $87,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB lifted its holdings in shares of Keurig Dr Pepper by 57.7% during the third quarter. Swedbank AB now owns 733,823 shares of the company's stock valued at $27,504,000 after purchasing an additional 268,555 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Keurig Dr Pepper by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company's stock valued at $122,038,000 after purchasing an additional 22,657 shares during the last quarter. LMR Partners LLP raised its position in Keurig Dr Pepper by 55.5% in the third quarter. LMR Partners LLP now owns 521,000 shares of the company's stock worth $19,527,000 after acquiring an additional 186,002 shares during the period. Curi RMB Capital LLC raised its holdings in Keurig Dr Pepper by 9.4% in the 3rd quarter. Curi RMB Capital LLC now owns 628,042 shares of the company's stock worth $23,539,000 after purchasing an additional 54,167 shares during the period. Finally, Qsemble Capital Management LP raised its stake in shares of Keurig Dr Pepper by 428.0% in the third quarter. Qsemble Capital Management LP now owns 59,618 shares of the company's stock worth $2,234,000 after buying an additional 48,326 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Keurig Dr Pepper Trading Down 0.8 %

NASDAQ:KDP traded down $0.26 during mid-day trading on Friday, hitting $33.55. 5,970,644 shares of the stock traded hands, compared to its average volume of 9,236,900. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 52 week low of $28.61 and a 52 week high of $38.28. The stock has a market capitalization of $45.51 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.57 and a beta of 0.61. The firm's 50 day moving average is $33.94 and its two-hundred day moving average is $34.60.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts' consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company's quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd 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, January 3rd. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Evercore ISI raised shares of Keurig Dr Pepper to a "hold" rating in a report on Thursday, September 5th. TD Cowen lifted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Citigroup cut their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.50.

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.