State of Alaska Department of Revenue Grows Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of Alaska Department of Revenue grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 20.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 172,947 shares of the company’s stock after purchasing an additional 29,650 shares during the quarter. State of Alaska Department of Revenue’s holdings in Keurig Dr Pepper were worth $6,120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KDP. BlackRock Inc. increased its position in Keurig Dr Pepper by 20.5% during the 4th quarter. BlackRock Inc. now owns 40,506,588 shares of the company’s stock valued at $1,493,073,000 after buying an additional 6,898,701 shares in the last quarter. Norges Bank purchased a new position in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $196,944,000. Vanguard Group Inc. boosted its stake in Keurig Dr Pepper by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 49,026,596 shares of the company’s stock worth $1,858,108,000 after purchasing an additional 3,853,922 shares in the last quarter. Bank of America Corp DE grew its position in Keurig Dr Pepper by 113.4% during the 1st quarter. Bank of America Corp DE now owns 6,622,670 shares of the company’s stock worth $250,999,000 after purchasing an additional 3,519,353 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Keurig Dr Pepper by 523.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,378,863 shares of the company’s stock valued at $87,685,000 after purchasing an additional 1,997,062 shares in the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, insider Herbert Derek Hopkins sold 37,500 shares of Keurig Dr Pepper stock in a transaction on Friday, July 1st. The shares were sold at an average price of $35.55, for a total value of $1,333,125.00. Following the completion of the transaction, the insider now owns 174,610 shares of the company’s stock, valued at $6,207,385.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Keurig Dr Pepper news, insider Herbert Derek Hopkins sold 37,500 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $35.55, for a total transaction of $1,333,125.00. Following the transaction, the insider now owns 174,610 shares in the company, valued at $6,207,385.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maurice Anthony Milikin acquired 12,986 shares of the company’s stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $38.97 per share, for a total transaction of $506,064.42. Following the completion of the acquisition, the insider now owns 142,776 shares of the company’s stock, valued at approximately $5,563,980.72. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 129,797 shares of company stock valued at $4,895,432 and have sold 316,000 shares valued at $12,102,475. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KDP shares. StockNews.com upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. UBS Group boosted their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Keurig Dr Pepper from $44.00 to $42.00 in a research note on Wednesday, July 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $37.77 on Tuesday. The business’s 50-day moving average is $38.80 and its two-hundred day moving average is $36.81. The company has a market capitalization of $53.48 billion, a P/E ratio of 24.85, a P/E/G ratio of 3.15 and a beta of 0.61. Keurig Dr Pepper Inc. has a fifty-two week low of $32.44 and a fifty-two week high of $41.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.37 and a current ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDPGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Keurig Dr Pepper had a return on equity of 9.15% and a net margin of 16.39%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company earned $0.38 earnings per share. Keurig Dr Pepper’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts predict that Keurig Dr Pepper Inc. will post 1.69 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.20 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, September 29th. Keurig Dr Pepper’s payout ratio is currently 49.34%.

About Keurig Dr Pepper

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.

See Also

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating).

Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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