Teacher Retirement System of Texas Cuts Stock Holdings in Keurig Dr Pepper, Inc $KDP

Teacher Retirement System of Texas lowered its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,126 shares of the company’s stock after selling 26,736 shares during the period. Teacher Retirement System of Texas’ holdings in Keurig Dr Pepper were worth $5,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Keurig Dr Pepper in the 2nd quarter worth about $568,525,000. Vanguard Group Inc. grew its holdings in shares of Keurig Dr Pepper by 9.8% in the second quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after acquiring an additional 14,244,768 shares in the last quarter. Invesco Ltd. increased its position in shares of Keurig Dr Pepper by 43.2% during the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock valued at $1,040,320,000 after acquiring an additional 9,494,503 shares during the last quarter. State Street Corp lifted its holdings in Keurig Dr Pepper by 11.2% during the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after acquiring an additional 6,412,494 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Keurig Dr Pepper by 13.5% during the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock worth $994,275,000 after acquiring an additional 3,595,579 shares during the period. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the transaction, the vice president directly owned 54,200 shares in the company, valued at approximately $1,599,984. The trade was a 15.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Trading Down 0.4%

Shares of KDP opened at $27.59 on Wednesday. Keurig Dr Pepper, Inc has a fifty-two week low of $25.03 and a fifty-two week high of $36.12. The business has a 50-day moving average of $28.00 and a 200 day moving average of $28.90. The firm has a market cap of $37.48 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Monday, October 27th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, January 2nd. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of recent analyst reports. TD Cowen restated a “hold” rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 1st. Bank of America cut their price target on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays raised their price objective on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Piper Sandler lifted their price objective on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.87.

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.