Keurig Dr Pepper Inc. (NASDAQ:KDP) Receives $38.36 Average PT from Brokerages

Keurig Dr Pepper Inc. (NASDAQ:KDP) has received an average rating of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.36.

A number of analysts have recently commented on KDP shares. Barclays reduced their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. TD Cowen lifted their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Citigroup reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group reduced 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. Finally, Wells Fargo & Company reduced their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th.

Keurig Dr Pepper Stock Up 1.3 %

NASDAQ:KDP opened at $32.66 on Thursday. The firm has a market cap of $44.30 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.49 and a beta of 0.63. 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 has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm has a 50-day simple moving average of $35.20 and a two-hundred day simple moving average of $34.71.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were 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 2.82%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s payout ratio is currently 55.76%.

Insider Activity

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its position in Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares in the last quarter. State Street Corp boosted its position in Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Keurig Dr Pepper by 107.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares in the last quarter. Geode Capital Management LLC boosted its position in Keurig Dr Pepper by 2.7% during the third quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company’s stock valued at $841,886,000 after purchasing an additional 591,316 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company’s stock valued at $574,146,000 after purchasing an additional 730,297 shares in the last quarter. Institutional investors own 85.23% 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.