Illinois Municipal Retirement Fund Increases Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Illinois Municipal Retirement Fund grew its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456,279 shares of the company’s stock after acquiring an additional 56,108 shares during the period. Illinois Municipal Retirement Fund’s holdings in Keurig Dr Pepper were worth $15,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KDP. Blue Trust Inc. lifted its position in shares of Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after buying an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares during the period. Farmers & Merchants Investments Inc. raised its position in Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the period. Hantz Financial Services Inc. purchased a new stake in Keurig Dr Pepper during the second quarter valued at approximately $35,000. Finally, Riverview Trust Co purchased a new stake in Keurig Dr Pepper during the second quarter valued at approximately $39,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on KDP shares. Barclays cut their target price on Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company increased their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, July 26th. BNP Paribas initiated coverage on Keurig Dr Pepper in a research note on Monday, June 24th. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research report on Thursday. Eight 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 currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP traded down $0.11 during trading on Friday, reaching $36.86. 5,657,798 shares of the company’s stock traded hands, compared to its average volume of 8,831,200. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $37.58. 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 $49.97 billion, a PE ratio of 23.78, a P/E/G ratio of 2.75 and a beta of 0.62. The company has a 50-day simple moving average of $34.40 and a 200-day simple moving average of $32.93.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

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.