HSBC upgraded shares of Keurig Dr Pepper (NASDAQ:KDP - Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage currently has $42.00 target price on the stock, up from their prior target price of $36.00.
A number of other analysts have also commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Morgan Stanley raised Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $38.00 to $40.00 in a report on Tuesday, April 1st. Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. Argus initiated coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 target price for the company. Finally, UBS Group boosted their price objective on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.33.
View Our Latest Research Report on Keurig Dr Pepper
Keurig Dr Pepper Stock Down 1.0 %
KDP stock traded down $0.36 during trading on Friday, hitting $34.04. 12,503,475 shares of the stock traded hands, compared to its average volume of 10,033,754. 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 $46.18 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. Keurig Dr Pepper has a 1 year low of $30.12 and a 1 year high of $38.28. The firm's 50 day moving average is $34.15 and its two-hundred day moving average is $33.17.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current year.
Keurig Dr Pepper Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, March 28th. Keurig Dr Pepper's payout ratio is currently 83.64%.
Insiders Place Their Bets
In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was 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 approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $35.59, for a total transaction of $427,080.00. Following the transaction, the insider now directly owns 154,511 shares in the company, valued at approximately $5,499,046.49. This trade represents a 7.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,421,350 shares of company stock valued at $2,757,137,010 over the last quarter. Company insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock valued at $3,841,140,000 after buying an additional 22,856,757 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Keurig Dr Pepper by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock valued at $1,946,561,000 after purchasing an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Keurig Dr Pepper by 36.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock worth $1,755,564,000 after buying an additional 14,473,054 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Keurig Dr Pepper by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company's stock valued at $784,974,000 after acquiring an additional 1,962,195 shares in the last quarter. Finally, Invesco Ltd. increased its position in Keurig Dr Pepper by 19.6% during the 4th quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock worth $693,972,000 after purchasing an additional 3,539,463 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.
About Keurig Dr Pepper
(
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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.
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