State of New Jersey Common Pension Fund D Has $12.80 Million Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

State of New Jersey Common Pension Fund D lifted its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 398,513 shares of the company’s stock after purchasing an additional 5,732 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Keurig Dr Pepper were worth $12,800,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after acquiring an additional 242,315 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Keurig Dr Pepper by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock valued at $122,038,000 after purchasing an additional 22,657 shares during the period. Franklin Resources Inc. lifted its stake in Keurig Dr Pepper by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after purchasing an additional 41,466 shares during the last quarter. Swedbank AB grew its holdings in Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after purchasing an additional 13,179 shares during the period. Finally, LMR Partners LLP increased its position in Keurig Dr Pepper by 55.5% during the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after buying an additional 186,002 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $31.65 on Tuesday. The business has a fifty day moving average price of $31.83 and a two-hundred day moving average price of $33.99. The stock has a market capitalization of $42.93 billion, a PE ratio of 19.18, a P/E/G ratio of 2.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $38.28.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. Keurig Dr Pepper’s payout ratio is 55.76%.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of Keurig Dr Pepper stock in a transaction on Wednesday, January 29th. The shares were purchased 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 in the company, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KDP shares. Royal Bank of Canada lifted their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler initiated coverage on shares of Keurig Dr Pepper in a report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price objective on the stock. Jefferies Financial Group dropped their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Citigroup lowered their price target on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.