State of Michigan Retirement System Has $9.82 Million Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of Michigan Retirement System raised its position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 305,600 shares of the company's stock after buying an additional 17,500 shares during the quarter. State of Michigan Retirement System's holdings in Keurig Dr Pepper were worth $9,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KDP. Ashton Thomas Securities LLC acquired a new stake in Keurig Dr Pepper in the third quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Keurig Dr Pepper in the 3rd quarter valued at approximately $35,000. Whipplewood Advisors LLC acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $37,000. Brooklyn Investment Group bought a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at approximately $61,000. Finally, R Squared Ltd acquired a new position in Keurig Dr Pepper during the 4th quarter worth approximately $70,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KDP. Morgan Stanley boosted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Wells Fargo & Company reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. UBS Group restated a "buy" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.23.

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Keurig Dr Pepper Trading Down 0.6 %

Keurig Dr Pepper stock traded down $0.19 during mid-day trading on Friday, hitting $33.34. 11,650,279 shares of the stock were exchanged, compared to its average volume of 9,157,914. The stock has a market capitalization of $45.23 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 12 month low of $28.62 and a 12 month high of $38.28. 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 firm's fifty day simple moving average is $32.05 and its two-hundred day simple moving average is $33.86.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.76%. Keurig Dr Pepper's payout ratio is 87.62%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the transaction, the insider now owns 134,113,479 shares in the company, valued at $4,378,805,089.35. The trade was a 38.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela A. Stephens sold 7,350 shares of the firm's 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 completion of the sale, the vice president now owns 74,587 shares of the company's stock, valued at $2,548,637.79. The trade was a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,385,350 shares of company stock valued at $2,755,891,890 over the last 90 days. Company insiders own 1.00% of the company's stock.

Keurig Dr Pepper Company 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.