Louisiana State Employees Retirement System Reduces Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Louisiana State Employees Retirement System decreased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,600 shares of the company’s stock after selling 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Keurig Dr Pepper were worth $5,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KDP. Ashton Thomas Securities LLC bought a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in Keurig Dr Pepper in the third quarter worth $35,000. Brooklyn Investment Group bought a new stake in shares of Keurig Dr Pepper during the third quarter worth $61,000. Catalyst Capital Advisors LLC boosted its stake in shares of Keurig Dr Pepper by 52.1% during the third quarter. Catalyst Capital Advisors LLC now owns 1,997 shares of the company’s stock valued at $75,000 after purchasing an additional 684 shares during the period. Finally, R Squared Ltd bought a new position in shares of Keurig Dr Pepper in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

KDP stock opened at $31.67 on Thursday. The firm has a 50-day simple moving average of $31.94 and a two-hundred day simple moving average of $34.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The firm has a market cap of $42.96 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.90%. Keurig Dr Pepper’s payout ratio is 55.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler began coverage on shares of Keurig Dr Pepper in a report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group dropped their price objective on Keurig Dr Pepper from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the acquisition, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.