Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price target lifted by JPMorgan Chase & Co. from $37.00 to $40.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on KDP. TD Cowen lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday. Piper Sandler started coverage on shares of Keurig Dr Pepper in a report on Tuesday. They issued a “neutral” rating and a $35.00 price target for the company. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Barclays reissued an “overweight” rating and set a $36.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.23.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $33.52 on Wednesday. The stock has a market cap of $45.47 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.42 and a beta of 0.61. The firm’s 50-day simple moving average is $31.93 and its 200 day simple moving average is $33.93. Keurig Dr Pepper has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. 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 (NASDAQ:KDP) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the transaction, the insider now directly owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. The trade was a 38.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of institutional investors have recently modified their holdings of KDP. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter worth about $26,057,000. Leigh Baldwin & CO. LLC acquired a new position in Keurig Dr Pepper in the fourth quarter worth approximately $297,000. Aurdan Capital Management LLC bought a new position in Keurig Dr Pepper during the fourth quarter valued at approximately $2,593,000. Mackenzie Financial Corp lifted its stake in Keurig Dr Pepper by 12.3% in the fourth quarter. Mackenzie Financial Corp now owns 378,935 shares of the company’s stock valued at $12,171,000 after acquiring an additional 41,560 shares during the last quarter. Finally, Forum Financial Management LP grew its position in Keurig Dr Pepper by 69.3% in the fourth quarter. Forum Financial Management LP now owns 23,409 shares of the company’s stock worth $752,000 after acquiring an additional 9,580 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

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.