California Public Employees Retirement System Has $192.61 Million Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

California Public Employees Retirement System lessened its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,780,516 shares of the company’s stock after selling 13,111 shares during the quarter. California Public Employees Retirement System owned 0.41% of Keurig Dr Pepper worth $192,607,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Keurig Dr Pepper in the 4th quarter valued at $29,000. Geneos Wealth Management Inc. lifted its stake in shares of Keurig Dr Pepper by 973.8% in the 3rd quarter. Geneos Wealth Management Inc. now owns 902 shares of the company’s stock valued at $28,000 after acquiring an additional 818 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Keurig Dr Pepper during the 4th quarter worth $34,000. Finally, Ulland Investment Advisors LLC bought a new position in Keurig Dr Pepper during the 4th quarter worth $50,000. 85.23% of the stock is currently owned by institutional investors.

Insider Transactions at Keurig Dr Pepper

In other news, major shareholder Holdings B.V. Jab sold 13,043,478 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $28.90, for a total transaction of $376,956,514.20. Following the completion of the sale, the insider now directly owns 283,443,879 shares in the company, valued at $8,191,528,103.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Keurig Dr Pepper news, major shareholder Holdings B.V. Jab sold 13,043,478 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $28.90, for a total value of $376,956,514.20. Following the completion of the sale, the insider now directly owns 283,443,879 shares in the company, valued at $8,191,528,103.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert James Gamgort bought 171,821 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $29.10 per share, with a total value of $4,999,991.10. Following the purchase, the chief executive officer now directly owns 3,179,917 shares of the company’s stock, valued at approximately $92,535,584.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 100,012,132 shares of company stock worth $2,890,354,861. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KDP. Royal Bank of Canada decreased their price target on Keurig Dr Pepper from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Wedbush dropped their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Morgan Stanley dropped their target price on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Barclays lifted their target price on shares of Keurig Dr Pepper from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Jefferies Financial Group dropped their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $36.45.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock traded up $0.06 during trading on Tuesday, hitting $31.82. The stock had a trading volume of 882,376 shares, compared to its average volume of 10,429,107. The stock has a market cap of $44.15 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.66. The stock’s 50 day moving average is $30.26 and its two-hundred day moving average is $31.01. Keurig Dr Pepper Inc. has a 1 year low of $27.66 and a 1 year high of $35.99. The company has a quick ratio of 0.25, a current ratio of 0.38 and a debt-to-equity ratio of 0.39.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 14.72% and a return on equity of 9.93%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, analysts predict that Keurig Dr Pepper Inc. will post 1.91 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.215 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.70%. Keurig Dr Pepper’s dividend payout ratio is currently 55.48%.

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.