Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 128,356 shares of the company's stock after selling 33,752 shares during the period. State of Alaska Department of Revenue's holdings in Keurig Dr Pepper were worth $4,122,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its position in Keurig Dr Pepper by 9.8% during the third 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 period. State Street Corp grew its stake in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company's stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 worth $841,886,000 after purchasing an additional 591,316 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 valued at $574,146,000 after acquiring an additional 730,297 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Keurig Dr Pepper by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,007,549 shares of the company's stock valued at $225,163,000 after acquiring an additional 150,202 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction dated 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 purchase, the insider now directly owns 218,063,479 shares of the company's stock, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KDP shares. Barclays lowered their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. UBS Group reduced their price objective on 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. Royal Bank of Canada lifted their price objective 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. TD Cowen dropped their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group lowered their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Six equities 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 has an average rating of "Moderate Buy" and a consensus target price of $37.50.

Keurig Dr Pepper Price Performance

Shares of KDP traded up $0.11 during mid-day trading on Wednesday, reaching $31.67. 6,950,809 shares of the company's stock were exchanged, compared to its average volume of 8,185,411. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $31.94 and a two-hundred day simple moving average of $34.06. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.90%. Keurig Dr Pepper's payout ratio is currently 55.76%.

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.