State of New Jersey Common Pension Fund D Trims Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of New Jersey Common Pension Fund D decreased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 30.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 392,781 shares of the company’s stock after selling 170,898 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Keurig Dr Pepper were worth $13,119,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KDP. Headlands Technologies LLC increased its holdings in Keurig Dr Pepper by 12.5% in the 2nd quarter. Headlands Technologies LLC now owns 36,071 shares of the company’s stock valued at $1,205,000 after acquiring an additional 4,009 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Keurig Dr Pepper by 7.6% in the second quarter. Daiwa Securities Group Inc. now owns 193,948 shares of the company’s stock worth $6,478,000 after buying an additional 13,654 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in Keurig Dr Pepper by 7.2% during the second quarter. Royal London Asset Management Ltd. now owns 426,999 shares of the company’s stock valued at $14,262,000 after buying an additional 28,542 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Keurig Dr Pepper during the 2nd quarter valued at approximately $245,000. Finally, LGT Group Foundation bought a new stake in Keurig Dr Pepper in the 2nd quarter worth approximately $307,000. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $27.00 to $34.00 in a research note on Monday, June 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. UBS Group boosted their target price on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, BNP Paribas assumed coverage on Keurig Dr Pepper in a research report on Monday, June 24th. They issued a “neutral” rating and a $36.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Stock Up 1.5 %

Keurig Dr Pepper stock opened at $37.61 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The firm has a market cap of $51.00 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.79 and a beta of 0.62. The business has a fifty day moving average of $34.85 and a two-hundred day moving average of $33.16. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $37.69.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.23 per share. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. Keurig Dr Pepper’s payout ratio is presently 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.