Illinois Municipal Retirement Fund Grows Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Illinois Municipal Retirement Fund increased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 456,279 shares of the company’s stock after buying an additional 56,108 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $15,240,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KDP. Blue Trust Inc. raised its position in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares during the period. Farmers & Merchants Investments Inc. raised its position in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the period. Hantz Financial Services Inc. purchased a new stake in Keurig Dr Pepper in the second quarter valued at approximately $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the second quarter worth $39,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP traded down $0.11 during mid-day trading on Friday, reaching $36.86. The stock had a trading volume of 5,657,798 shares, compared to its average volume of 8,831,200. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The firm has a market capitalization of $49.97 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.75 and a beta of 0.62. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $37.58. The business has a 50 day simple moving average of $34.40 and a 200 day simple moving average of $32.93.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on KDP. Wells Fargo & Company boosted their price target on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a report on Friday, July 26th. UBS Group increased their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 10th. BNP Paribas began coverage on Keurig Dr Pepper in a report on Monday, June 24th. They set a “neutral” rating and a $36.00 price objective on the stock. Finally, Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $34.00 in a report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average target price of $36.50.

About Keurig Dr Pepper

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.