New York State Teachers Retirement System Acquires 15,523 Shares of Keurig Dr Pepper, Inc $KDP

New York State Teachers Retirement System grew its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 834,400 shares of the company’s stock after purchasing an additional 15,523 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of Keurig Dr Pepper worth $21,970,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. bought a new position in Keurig Dr Pepper during the 4th quarter valued at about $727,667,000. Norges Bank bought a new stake in Keurig Dr Pepper in the fourth quarter worth about $568,361,000. Capital International Investors boosted its position in shares of Keurig Dr Pepper by 1,987.4% during the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock valued at $472,193,000 after buying an additional 16,050,437 shares during the period. Wellington Management Group LLP boosted its position in shares of Keurig Dr Pepper by 37.0% during the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock valued at $1,596,664,000 after buying an additional 15,393,753 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 285.3% during the fourth quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock valued at $325,925,000 after buying an additional 8,615,869 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KDP. Deutsche Bank Aktiengesellschaft reduced their price target on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Zacks Research downgraded Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Evercore set a $30.00 target price on Keurig Dr Pepper in a research note on Friday, April 24th. Citigroup decreased their target price on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group raised shares of Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a research note on Thursday, June 25th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Hold” and an average price target of $32.40.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $33.30 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The firm has a market capitalization of $45.31 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.52 and a beta of 0.40. The stock has a 50 day moving average price of $30.34 and a 200 day moving average price of $28.64. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.Keurig Dr Pepper’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.8%. Keurig Dr Pepper’s dividend payout ratio is presently 68.15%.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.