New York State Common Retirement Fund Has $36.11 Million Position in Keurig Dr Pepper, Inc $KDP

New York State Common Retirement Fund lessened its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 7.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,415,398 shares of the company’s stock after selling 110,601 shares during the period. New York State Common Retirement Fund’s holdings in Keurig Dr Pepper were worth $36,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KDP. Truist Financial Corp grew its stake in shares of Keurig Dr Pepper by 15.2% in the second quarter. Truist Financial Corp now owns 302,093 shares of the company’s stock worth $9,987,000 after purchasing an additional 39,916 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Keurig Dr Pepper by 14.0% during the 2nd quarter. State of Michigan Retirement System now owns 369,300 shares of the company’s stock worth $12,209,000 after buying an additional 45,400 shares during the period. Callan Family Office LLC grew its position in shares of Keurig Dr Pepper by 290.4% in the 2nd quarter. Callan Family Office LLC now owns 28,458 shares of the company’s stock valued at $941,000 after buying an additional 21,168 shares during the last quarter. ASR Vermogensbeheer N.V. increased its stake in shares of Keurig Dr Pepper by 13.8% in the second quarter. ASR Vermogensbeheer N.V. now owns 185,646 shares of the company’s stock valued at $6,137,000 after buying an additional 22,483 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Keurig Dr Pepper by 7.0% during the second quarter. ProShare Advisors LLC now owns 2,134,176 shares of the company’s stock worth $70,556,000 after acquiring an additional 140,012 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the sale, the vice president owned 54,200 shares of the company’s stock, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $27.44 on Friday. The firm has a market capitalization of $37.28 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.85 and a beta of 0.34. The firm’s 50-day moving average price is $27.98 and its 200-day moving average price is $28.83. The company has a current ratio of 0.62, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53. Keurig Dr Pepper, Inc has a 1-year low of $25.03 and a 1-year high of $36.12.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.23 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.92 annualized dividend and a yield of 3.4%. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Wall Street Analysts Forecast Growth

KDP has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. dropped their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Bank of America decreased their price target on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Wednesday. Finally, Jefferies Financial Group lowered Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $32.00 in a research report on Tuesday, December 16th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.87.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.