California Public Employees Retirement System Has $159.18 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

California Public Employees Retirement System grew its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,955,620 shares of the company’s stock after buying an additional 117,753 shares during the period. California Public Employees Retirement System’s holdings in Keurig Dr Pepper were worth $159,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Keurig Dr Pepper by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock valued at $681,579,000 after purchasing an additional 8,363,192 shares during the last quarter. Norges Bank acquired a new stake in shares of Keurig Dr Pepper during the 4th quarter worth approximately $197,819,000. State Street Corp raised its stake in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after buying an additional 4,970,467 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Keurig Dr Pepper by 32.3% in the fourth quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company’s stock valued at $600,189,000 after buying an additional 4,562,128 shares during the period. Institutional investors own 93.99% of the company’s stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, Chairman Robert James Gamgort sold 416,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total value of $14,264,640.00. Following the transaction, the chairman now directly owns 3,237,066 shares of the company’s stock, valued at $110,998,993.14. This represents a 11.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the transaction, the insider now owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,397,350 shares of company stock valued at $2,756,292,570. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen lowered their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Piper Sandler started coverage on Keurig Dr Pepper in a report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Keurig Dr Pepper Trading Down 1.5 %

Keurig Dr Pepper stock opened at $33.74 on Monday. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year high of $38.28. The company has a market cap of $45.78 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a 50-day moving average of $32.72 and a 200-day moving average of $33.52.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.73%. Keurig Dr Pepper’s dividend payout ratio is currently 87.62%.

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.