California State Teachers Retirement System Has $64.18 Million Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

California State Teachers Retirement System boosted its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,998,198 shares of the company’s stock after purchasing an additional 119,546 shares during the quarter. California State Teachers Retirement System’s holdings in Keurig Dr Pepper were worth $64,182,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock valued at $3,841,140,000 after buying an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew 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 worth $681,579,000 after acquiring an additional 8,363,192 shares in the last quarter. Norges Bank purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at about $197,819,000. Finally, Wellington Management Group LLP raised its holdings in shares of Keurig Dr Pepper by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock valued at $1,946,561,000 after purchasing an additional 5,646,179 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $32.87 on Wednesday. The firm’s 50 day moving average is $34.20 and its 200 day moving average is $33.03. The stock has a market capitalization of $44.64 billion, a P/E ratio of 19.92, a PEG ratio of 2.42 and a beta of 0.52. Keurig Dr Pepper Inc. has a 12 month low of $30.12 and a 12 month high of $38.28. 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 (NASDAQ:KDP) last posted its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.80%. Keurig Dr Pepper’s dividend payout ratio is currently 83.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KDP shares. UBS Group upped their price objective on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Hsbc Global Res raised Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Argus began coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They issued a “buy” rating and a $40.00 price objective on the stock. Piper Sandler upgraded Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.33.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the completion of the sale, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the company’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the transaction, the insider now owns 154,511 shares of the company’s stock, valued at $5,499,046.49. This trade represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 913,850 shares of company stock valued at $31,235,950 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper 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.