Public Sector Pension Investment Board Acquires 643,524 Shares of Keurig Dr Pepper, Inc $KDP

Public Sector Pension Investment Board raised its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 101.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,275,329 shares of the company’s stock after acquiring an additional 643,524 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.09% of Keurig Dr Pepper worth $32,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new stake in shares of Keurig Dr Pepper in the third quarter worth about $1,217,000. Bank of New York Mellon Corp lifted its holdings in shares of Keurig Dr Pepper by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,927,144 shares of the company’s stock worth $202,221,000 after acquiring an additional 223,160 shares during the last quarter. State of Michigan Retirement System lifted its stake in Keurig Dr Pepper by 14.0% during the second quarter. State of Michigan Retirement System now owns 369,300 shares of the company’s stock worth $12,209,000 after purchasing an additional 45,400 shares during the last quarter. Candriam S.C.A. lifted its position in Keurig Dr Pepper by 50.9% in the 3rd quarter. Candriam S.C.A. now owns 377,667 shares of the company’s stock worth $9,634,000 after buying an additional 127,389 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Keurig Dr Pepper by 69.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 105,015 shares of the company’s stock valued at $2,660,000 after purchasing an additional 43,223 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Keurig Dr Pepper in a research report on Wednesday, January 28th. Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $32.00 in a report on Tuesday, December 16th. Wells Fargo & Company increased their price target on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Barclays increased their price objective on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Ten equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.87.

Keurig Dr Pepper Stock Up 0.1%

KDP stock opened at $29.91 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.62 and a debt-to-equity ratio of 0.53. Keurig Dr Pepper, Inc has a twelve month low of $25.03 and a twelve month high of $36.12. The stock has a market cap of $40.64 billion, a P/E ratio of 25.78, a PEG ratio of 2.05 and a beta of 0.34. The business’s 50-day moving average price is $28.11 and its 200-day moving average price is $28.53.

Keurig Dr Pepper Announces Dividend

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

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 10,000 shares of the firm’s stock in a transaction on 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 directly owned 54,200 shares of the company’s stock, valued at approximately $1,599,984. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

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.