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

Keurig Dr Pepper (NASDAQ:KDP) had its price target lowered by JPMorgan Chase & Co. from $41.00 to $40.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

KDP has been the subject of several other research reports. Barclays increased their price target on shares of Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $43.00 in a research report on Monday, September 23rd. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $34.58 on Friday. The firm has a 50 day simple moving average of $36.73 and a 200-day simple moving average of $34.67. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The stock has a market cap of $46.88 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 2.73 and a beta of 0.62.

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, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 59.35%.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KDP. State of Michigan Retirement System raised its holdings in shares of Keurig Dr Pepper by 3.6% in the 1st quarter. State of Michigan Retirement System now owns 285,400 shares of the company’s stock valued at $8,753,000 after purchasing an additional 9,800 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Keurig Dr Pepper by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,084,471 shares of the company’s stock valued at $94,601,000 after purchasing an additional 9,674 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Keurig Dr Pepper in the 1st quarter valued at $1,315,000. Maryland State Retirement & Pension System raised its holdings in shares of Keurig Dr Pepper by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 74,810 shares of the company’s stock valued at $2,297,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Keurig Dr Pepper by 254.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after purchasing an additional 68,840 shares in the last quarter. Hedge funds and other 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.