Retirement Systems of Alabama Acquires 1,897,787 Shares of Keurig Dr Pepper, Inc $KDP

Retirement Systems of Alabama increased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 664.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,183,609 shares of the company’s stock after buying an additional 1,897,787 shares during the period. Retirement Systems of Alabama’s holdings in Keurig Dr Pepper were worth $66,251,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in shares of Keurig Dr Pepper by 358.0% during the first quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock valued at $26,000 after acquiring an additional 759 shares during the last quarter. Community Bank N.A. acquired a new position in shares of Keurig Dr Pepper during the second quarter worth $29,000. Covestor Ltd lifted its holdings in shares of Keurig Dr Pepper by 214.2% during the third quarter. Covestor Ltd now owns 1,194 shares of the company’s stock worth $36,000 after purchasing an additional 814 shares during the period. Fortitude Family Office LLC grew its stake in shares of Keurig Dr Pepper by 216.2% in the third quarter. Fortitude Family Office LLC now owns 1,565 shares of the company’s stock worth $47,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Keurig Dr Pepper in the third quarter worth $54,000. 93.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KDP has been the subject of a number of recent research reports. Argus restated a “buy” rating and issued a $36.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, September 15th. Morgan Stanley lifted their target price on Keurig Dr Pepper from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on Keurig Dr Pepper from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Finally, Evercore increased their price target on Keurig Dr Pepper from $30.00 to $32.00 in a research note on Thursday, October 8th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.29.

Insiders Place Their Bets

In other news, VP Angela Stephens sold 9,500 shares of Keurig Dr Pepper stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total value of $310,650.00. Following the completion of the transaction, the vice president directly owned 55,786 shares of the company’s stock, valued at approximately $1,824,202.20. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aaron Alt acquired 7,862 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $31.83 per share, with a total value of $250,247.46. Following the completion of the transaction, the director owned 7,862 shares in the company, valued at approximately $250,247.46. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.34% of the company’s stock.

Keurig Dr Pepper Stock Up 0.8%

Shares of NASDAQ KDP opened at $36.94 on Tuesday. The company has a market capitalization of $50.27 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.35. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $37.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.28 and a current ratio of 0.52. The company’s 50 day moving average price is $32.96 and its 200-day moving average price is $30.25.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Keurig Dr Pepper had a net margin of 7.12% and a return on equity of 11.27%. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.33 billion. During the same period in the prior year, the firm posted $0.54 EPS. The company’s quarterly revenue was up 70.6% on a year-over-year basis. Equities analysts forecast that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.5%. Keurig Dr Pepper’s dividend payout ratio is 84.40%.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.