TD Cowen Lowers Keurig Dr Pepper (NASDAQ:KDP) Price Target to $36.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price lowered by TD Cowen from $39.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

KDP has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Piper Sandler assumed coverage on Keurig Dr Pepper in a research note on Tuesday. They issued a “neutral” rating and a $35.00 target price for the company. Barclays lowered their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Citigroup cut their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and an average target price of $37.93.

Keurig Dr Pepper Trading Down 2.4 %

Shares of KDP opened at $30.38 on Wednesday. The firm’s fifty day moving average is $32.45 and its two-hundred day moving average is $34.28. The stock has a market cap of $41.21 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper has a 52-week low of $28.61 and a 52-week high of $38.28.

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

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, January 3rd. Keurig Dr Pepper’s dividend payout ratio (DPR) is 55.76%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Keurig Dr Pepper by 13.4% during the second quarter. Private Advisor Group LLC now owns 17,310 shares of the company’s stock worth $578,000 after purchasing an additional 2,045 shares in the last quarter. Savant Capital LLC increased its stake in Keurig Dr Pepper by 161.5% during the 2nd quarter. Savant Capital LLC now owns 17,597 shares of the company’s stock worth $588,000 after buying an additional 10,869 shares during the period. Acadian Asset Management LLC acquired a new stake in Keurig Dr Pepper during the 2nd quarter worth approximately $982,000. Caprock Group LLC boosted its position in Keurig Dr Pepper by 22.3% in the 2nd quarter. Caprock Group LLC now owns 22,051 shares of the company’s stock valued at $741,000 after buying an additional 4,025 shares during the period. Finally, Ballentine Partners LLC grew its stake in shares of Keurig Dr Pepper by 22.5% in the second quarter. Ballentine Partners LLC now owns 18,840 shares of the company’s stock worth $629,000 after acquiring an additional 3,459 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Company Profile

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.