Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,545,438 shares of the company’s stock after purchasing an additional 61,800 shares during the period. New York State Common Retirement Fund’s holdings in Keurig Dr Pepper were worth $49,639,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS increased its holdings in Keurig Dr Pepper by 1.9% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 76,184 shares of the company’s stock valued at $2,447,000 after purchasing an additional 1,454 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Keurig Dr Pepper by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 435,035 shares of the company’s stock valued at $13,973,000 after purchasing an additional 20,291 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Keurig Dr Pepper by 10.5% in the 4th quarter. Sanctuary Advisors LLC now owns 86,345 shares of the company’s stock valued at $2,784,000 after purchasing an additional 8,190 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Keurig Dr Pepper by 97.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 3,946 shares of the company’s stock valued at $127,000 after purchasing an additional 1,949 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Keurig Dr Pepper by 1.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 398,513 shares of the company’s stock valued at $12,800,000 after purchasing an additional 5,732 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. UBS Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada upped their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Keurig Dr Pepper Price Performance

KDP opened at $32.78 on Thursday. The firm has a market cap of $44.46 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.31 and a beta of 0.61. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The company’s 50-day moving average price is $31.80 and its 200 day moving average price is $33.96. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.81%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 55.76%.

Keurig Dr Pepper Company Profile

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.