Public Sector Pension Investment Board Purchases 332,500 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Public Sector Pension Investment Board lifted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 39.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,171,557 shares of the company’s stock after buying an additional 332,500 shares during the period. Public Sector Pension Investment Board’s holdings in Keurig Dr Pepper were worth $43,910,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Keurig Dr Pepper during the 3rd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after acquiring an additional 643 shares during the period. Farmers & Merchants Investments Inc. lifted its position in Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in Keurig Dr Pepper by 105.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock worth $39,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KDP. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Barclays dropped their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company cut their target price on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup cut their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $38.36.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $32.58 on Thursday. The company has a market cap of $44.19 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. The firm has a 50-day moving average of $34.92 and a 200-day moving average of $34.68. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. As a group, equities analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.23 dividend. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

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.