Illinois Municipal Retirement Fund Sells 20,019 Shares of Keurig Dr Pepper, Inc $KDP

Illinois Municipal Retirement Fund decreased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 3.3% during the third quarter, Holdings Channel reports. The fund owned 581,447 shares of the company’s stock after selling 20,019 shares during the period. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $14,833,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 purchasing an additional 14,244,768 shares in the last quarter. State Street Corp grew its holdings in shares of Keurig Dr Pepper by 11.2% in 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. Invesco Ltd. lifted its holdings in Keurig Dr Pepper by 43.2% in 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 period. Geode Capital Management LLC boosted its position 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 last quarter. Finally, Norges Bank bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter valued at about $568,525,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the vice president owned 54,200 shares of the company’s stock, valued at $1,599,984. This represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

KDP has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Wednesday, January 28th. Barclays lifted their target price on Keurig Dr Pepper from $26.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. reduced their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. UBS Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $32.00 in a research note on Tuesday, December 16th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.87.

Keurig Dr Pepper Trading Up 0.1%

Shares of KDP opened at $29.91 on Friday. The firm has a market cap of $40.64 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.05 and a beta of 0.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.38. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $36.12. The company has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $28.53.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, March 27th. Keurig Dr Pepper’s payout ratio is currently 79.31%.

Keurig Dr Pepper Company Profile

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.