New York State Common Retirement Fund Purchases 89,761 Shares of Keurig Dr Pepper, Inc $KDP

New York State Common Retirement Fund boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,525,999 shares of the company’s stock after purchasing an additional 89,761 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Keurig Dr Pepper worth $50,450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Keurig Dr Pepper by 9.8% in the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after buying an additional 14,244,768 shares during the period. JPMorgan Chase & Co. boosted its stake in Keurig Dr Pepper by 108.1% during the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after acquiring an additional 20,196,835 shares in the last quarter. Geode Capital Management LLC grew its holdings in Keurig Dr Pepper by 13.5% in the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock worth $994,275,000 after purchasing an additional 3,595,579 shares during the period. Invesco Ltd. grew its holdings in Keurig Dr Pepper by 1.7% in the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock worth $751,920,000 after purchasing an additional 367,518 shares during the period. Finally, Norges Bank bought a new position in shares of Keurig Dr Pepper during the second quarter valued at approximately $568,525,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Trading Up 0.8%

Shares of NASDAQ:KDP opened at $27.91 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.40. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12. The company has a market cap of $37.91 billion, a P/E ratio of 24.06, a PEG ratio of 1.75 and a beta of 0.43. The stock’s fifty day moving average price is $26.79 and its 200-day moving average price is $30.44.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Monday, October 27th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.15 billion. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.Keurig Dr Pepper’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, September 26th. Keurig Dr Pepper’s payout ratio is presently 79.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KDP. TD Cowen dropped their price target on Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Cowen reissued a “hold” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. Jefferies Financial Group set a $41.00 target price on Keurig Dr Pepper in a research note on Monday, August 25th. Deutsche Bank Aktiengesellschaft reduced their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Finally, Citigroup dropped their price target on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.27.

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.