Keurig Dr Pepper (NASDAQ:KDP) Raised to Overweight at Piper Sandler

Piper Sandler upgraded shares of Keurig Dr Pepper (NASDAQ:KDP - Free Report) from a neutral rating to an overweight rating in a research report released on Wednesday, MarketBeat.com reports. The firm currently has $40.00 target price on the stock, up from their prior target price of $35.00.

KDP has been the subject of a number of other reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. UBS Group reaffirmed a "buy" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Barclays set a $39.00 price target on Keurig Dr Pepper in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, Morgan Stanley raised Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $38.00 to $40.00 in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.77.

Keurig Dr Pepper Stock Up 1.0 %

NASDAQ KDP traded up $0.36 on Wednesday, hitting $35.52. The stock had a trading volume of 4,638,231 shares, compared to its average volume of 9,912,582. Keurig Dr Pepper has a 52-week low of $30.12 and a 52-week high of $38.28. The business's fifty day moving average price is $33.39 and its 200 day moving average price is $33.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced 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 the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Keurig Dr Pepper will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.23 per share. The ex-dividend date was Friday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.59%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 87.62%.

Insider Buying and Selling

In other news, VP Angela A. Stephens sold 7,350 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares in the company, valued at $2,548,637.79. The trade was a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company'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 value of $2,740,967,500.00. Following the completion of the sale, the insider now owns 134,113,479 shares of the company's stock, valued at $4,378,805,089.35. This trade represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,409,350 shares of company stock worth $2,756,709,930. Insiders own 1.00% of the company's stock.

Institutional Trading of Keurig Dr Pepper

Several large investors have recently added to or reduced their stakes in KDP. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock valued at $1,755,564,000 after buying an additional 14,473,054 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Keurig Dr Pepper by 65.0% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company's stock valued at $681,579,000 after acquiring an additional 8,363,192 shares during the last quarter. Norges Bank purchased a new position in Keurig Dr Pepper in the fourth quarter worth approximately $197,819,000. Finally, Wellington Management Group LLP increased its stake in Keurig Dr Pepper by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock worth $1,946,561,000 after acquiring an additional 5,646,179 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

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.