Louisiana State Employees Retirement System Trims Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Louisiana State Employees Retirement System cut its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,600 shares of the company’s stock after selling 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Keurig Dr Pepper were worth $5,126,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in KDP. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after buying an additional 242,315 shares in the last quarter. Swedbank AB raised its holdings in shares of Keurig Dr Pepper by 57.7% during the third quarter. Swedbank AB now owns 733,823 shares of the company’s stock worth $27,504,000 after purchasing an additional 268,555 shares during the period. Pathstone Holdings LLC lifted its holdings in Keurig Dr Pepper by 0.7% in the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock worth $122,038,000 after acquiring an additional 22,657 shares during the last quarter. Franklin Resources Inc. boosted its position in Keurig Dr Pepper by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after purchasing an additional 41,466 shares during the period. Finally, LMR Partners LLP grew its position in shares of Keurig Dr Pepper by 55.5% during the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after acquiring an additional 186,002 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on KDP. TD Cowen reduced their price objective 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. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. UBS Group lowered their price target on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Insider Activity

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

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $31.67 on Thursday. The firm has a fifty day simple moving average of $31.94 and a 200 day simple moving average of $34.06. Keurig Dr Pepper Inc. has a 1-year low of $28.61 and a 1-year high of $38.28. The stock has a market capitalization of $42.96 billion, a PE ratio of 19.19, a P/E/G ratio of 2.16 and a beta of 0.61. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.90%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 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.