Keurig Dr Pepper (NASDAQ:KDP) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Keurig Dr Pepper (NASDAQ:KDP - Free Report) in a report published on Tuesday, Marketbeat reports. The firm issued a neutral rating and a $35.00 price target on the stock.

Several other analysts have also commented on the company. Royal Bank of Canada raised their price objective on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, October 25th. TD Cowen lifted their price target on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a "hold" rating in a research note on Thursday, September 26th. Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Jefferies Financial Group reduced their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of "Moderate Buy" and a consensus target price of $38.21.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded down $0.40 during midday trading on Tuesday, reaching $30.68. 8,271,613 shares of the stock were exchanged, compared to its average volume of 6,493,875. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $41.62 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.57 and a beta of 0.62. The firm has a 50-day simple moving average of $32.61 and a two-hundred day simple moving average of $34.38. Keurig Dr Pepper has a twelve month low of $28.61 and a twelve month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business earned $0.48 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, January 3rd. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 55.76%.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KDP. Kings Path Partners LLC raised its stake in shares of Keurig Dr Pepper by 16.4% in the 4th quarter. Kings Path Partners LLC now owns 34,967 shares of the company's stock valued at $1,123,000 after acquiring an additional 4,938 shares during the period. Pensionfund Sabic increased its holdings in Keurig Dr Pepper by 53.1% in the 4th quarter. Pensionfund Sabic now owns 49,000 shares of the company's stock valued at $1,574,000 after purchasing an additional 17,000 shares during the last quarter. Nordea Investment Management AB raised its position in Keurig Dr Pepper by 42.1% in the fourth quarter. Nordea Investment Management AB now owns 72,577 shares of the company's stock valued at $2,327,000 after purchasing an additional 21,501 shares during the period. GAMMA Investing LLC lifted its stake in Keurig Dr Pepper by 87.2% during the fourth quarter. GAMMA Investing LLC now owns 8,084 shares of the company's stock worth $260,000 after purchasing an additional 3,765 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Keurig Dr Pepper by 29.8% during the third quarter. Principal Financial Group Inc. now owns 2,929,312 shares of the company's stock worth $109,791,000 after buying an additional 672,664 shares during the period. Hedge funds and other institutional investors own 93.99% 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.