State of Tennessee Department of Treasury Boosts Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of Tennessee Department of Treasury increased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,297 shares of the company's stock after acquiring an additional 28,897 shares during the quarter. State of Tennessee Department of Treasury's holdings in Keurig Dr Pepper were worth $11,605,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in Keurig Dr Pepper by 2.1% in the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company's stock valued at $505,000 after acquiring an additional 327 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Keurig Dr Pepper by 1.2% during the 4th quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company's stock worth $893,000 after acquiring an additional 342 shares during the period. Barden Capital Management Inc. raised its position in shares of Keurig Dr Pepper by 0.9% in the 4th quarter. Barden Capital Management Inc. now owns 39,836 shares of the company's stock worth $1,280,000 after acquiring an additional 353 shares in the last quarter. Custom Index Systems LLC boosted its position in shares of Keurig Dr Pepper by 5.3% during the fourth quarter. Custom Index Systems LLC now owns 7,109 shares of the company's stock valued at $228,000 after purchasing an additional 357 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company's stock worth $250,000 after purchasing an additional 384 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock traded down $0.36 during trading on Monday, reaching $34.04. The company had a trading volume of 12,464,094 shares, compared to its average volume of 12,848,670. The firm has a market capitalization of $46.18 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $34.13 and its 200 day simple moving average is $33.18. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the previous year, the company earned $0.38 EPS. Keurig Dr Pepper's revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.23 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 83.64%.

Insider Activity

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the transaction, the insider now directly owns 218,063,479 shares of the company's stock, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their position. The acquisition 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 dated 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. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,421,350 shares of company stock worth $2,757,137,010. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KDP shares. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday. Piper Sandler raised Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. TD Cowen lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. UBS Group increased their price objective on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Argus started coverage on shares of Keurig Dr Pepper in a research note on Wednesday, April 16th. They issued a "buy" rating and a $40.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and a consensus price target of $39.33.

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.