Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $40.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price boosted by TD Cowen from $35.00 to $40.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research firms also recently issued reports on KDP. JPMorgan Chase & Co. reduced their price target on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Citigroup upgraded Keurig Dr Pepper from a neutral rating to a buy rating and boosted their target price for the stock from $36.00 to $43.00 in a research report on Monday, September 23rd. UBS Group raised their price target on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a buy rating in a research report on Monday, June 10th. Truist Financial upgraded shares of Keurig Dr Pepper from a sell rating to a hold rating and boosted their price objective for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Finally, Barclays dropped their target price on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an overweight rating for the company in a report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $37.53.

Keurig Dr Pepper Trading Down 0.3 %

Shares of Keurig Dr Pepper stock opened at $37.42 on Thursday. The firm has a market cap of $50.73 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. Keurig Dr Pepper has a 52-week low of $27.66 and a 52-week high of $38.28. The company’s 50-day simple moving average is $35.84 and its 200-day simple moving average is $33.80. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50.

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

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is currently 59.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KDP. Blue Trust Inc. boosted its holdings in Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after acquiring an additional 643 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Keurig Dr Pepper by 617.1% in the 2nd 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 in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after purchasing an additional 301 shares during the period. Hantz Financial Services Inc. acquired a new stake in Keurig Dr Pepper during the 2nd quarter worth approximately $35,000. Finally, Riverview Trust Co purchased a new position in Keurig Dr Pepper in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 85.23% 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.