New York State Common Retirement Fund Purchases 89,761 Shares of Keurig Dr Pepper, Inc $KDP

by · The Cerbat Gem

New York State Common Retirement Fund boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) by 6.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,525,999 shares of the company’s stock after purchasing an additional 89,761 shares during the period. New York State Common Retirement Fund’s holdings in Keurig Dr Pepper were worth $50,450,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KDP. Vanguard Group Inc. boosted its holdings in shares of Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after buying an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Keurig Dr Pepper by 108.1% during the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock valued at $1,330,565,000 after buying an additional 20,196,835 shares during the last quarter. Norges Bank bought a new position in Keurig Dr Pepper in the second quarter worth approximately $568,525,000. Geode Capital Management LLC boosted its stake in shares of Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock worth $994,275,000 after acquiring an additional 3,595,579 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Keurig Dr Pepper by 404.3% during the 2nd quarter. Franklin Resources Inc. now owns 3,852,030 shares of the company’s stock worth $127,348,000 after acquiring an additional 3,088,121 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $27.91 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. Keurig Dr Pepper, Inc has a twelve month low of $25.03 and a twelve month high of $36.12. The business has a 50-day moving average price of $26.79 and a 200-day moving average price of $30.44. The firm has a market cap of $37.91 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio is currently 79.31%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KDP shares. Bank of America reduced their price objective on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. UBS Group reissued a “buy” rating and issued a $35.00 target price on shares of Keurig Dr Pepper in a report on Tuesday, October 28th. Finally, Wells Fargo & Company raised their target price on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.27.

Check Out Our Latest Stock Analysis on KDP

Keurig Dr Pepper Company Profile

(Free Report)

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.

See Also

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