California State Teachers Retirement System Cuts Stock Holdings in Keurig Dr Pepper, Inc $KDP

California State Teachers Retirement System lowered its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,197,061 shares of the company’s stock after selling 40,664 shares during the quarter. California State Teachers Retirement System’s holdings in Keurig Dr Pepper were worth $57,849,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. raised its position in shares of Keurig Dr Pepper by 290.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock valued at $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Keurig Dr Pepper by 194.6% during the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock worth $2,438,000 after buying an additional 57,500 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Keurig Dr Pepper by 47.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after buying an additional 57,797 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after buying an additional 47,184 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Keurig Dr Pepper by 4,366.8% in the fourth quarter. M&T Bank Corp now owns 1,370,428 shares of the company’s stock worth $38,386,000 after buying an additional 1,339,748 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KDP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research lowered shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup increased their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, UBS Group lifted their price target on Keurig Dr Pepper from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.40.

Keurig Dr Pepper Trading Up 0.4%

NASDAQ KDP opened at $31.57 on Friday. The firm has a market capitalization of $42.95 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.44 and a beta of 0.40. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The company has a 50-day simple moving average of $31.06 and a 200-day simple moving average of $29.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Keurig Dr Pepper’s dividend payout ratio is 68.15%.

Keurig Dr Pepper Company Profile

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.