Keurig Dr Pepper (NASDAQ:KDP) Sees Unusually-High Trading Volume Following Analyst Upgrade

Keurig Dr Pepper Inc. (NASDAQ:KDP) saw an uptick in trading volume on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $37.00 to $40.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 13,843,231 shares were traded during mid-day trading, an increase of 47% from the previous session’s volume of 9,409,465 shares.The stock last traded at $33.00 and had previously closed at $33.74.

KDP has been the subject of a number of other research reports. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday. Morgan Stanley boosted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price target for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. Finally, Barclays restated an “overweight” rating and issued a $36.00 price target on shares of Keurig Dr Pepper in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.23.

Insider Activity

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now directly owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Keurig Dr Pepper during the third quarter worth $25,000. New Age Alpha Advisors LLC lifted its stake in Keurig Dr Pepper by 82.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock worth $28,000 after purchasing an additional 389 shares during the last quarter. LRI Investments LLC bought a new position in Keurig Dr Pepper during the third quarter worth $35,000. Whipplewood Advisors LLC bought a new position in Keurig Dr Pepper during the fourth quarter worth $37,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Keurig Dr Pepper during the fourth quarter worth $42,000. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

The company has a 50 day moving average of $31.93 and a 200-day moving average of $33.93. The stock has a market capitalization of $45.47 billion, a P/E ratio of 20.32, a PEG ratio of 2.42 and a beta of 0.61. 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 earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

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

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.