Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $38.00 at Morgan Stanley

Keurig Dr Pepper (NASDAQ:KDP - Free Report) had its price objective lifted by Morgan Stanley from $36.00 to $38.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

KDP has been the topic of a number of other reports. UBS Group reiterated a "buy" rating on shares of Keurig Dr Pepper in a research report on Tuesday. TD Cowen decreased their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their target price for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Finally, Piper Sandler initiated coverage on Keurig Dr Pepper in a research report on Tuesday. They issued a "neutral" rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average target price of $38.23.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock traded down $0.09 during trading hours on Wednesday, hitting $33.52. The company's stock had a trading volume of 36,649,107 shares, compared to its average volume of 11,659,468. The business has a 50 day moving average price of $31.93 and a two-hundred day moving average price of $33.92. Keurig Dr Pepper has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a market cap of $45.48 billion, a PE ratio of 20.32, a PEG ratio of 2.42 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53.

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Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts expect that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.74%. Keurig Dr Pepper's dividend payout ratio is 87.62%.

Insider Activity

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This represents a 1.69 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KDP. Sumitomo Mitsui Trust Group Inc. grew its stake in Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock worth $100,796,000 after purchasing an additional 242,315 shares in the last quarter. Pathstone Holdings LLC grew its stake in Keurig Dr Pepper by 0.7% in the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company's stock worth $122,038,000 after purchasing an additional 22,657 shares in the last quarter. Franklin Resources Inc. grew its stake in Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company's stock worth $22,806,000 after purchasing an additional 41,466 shares in the last quarter. Swedbank AB grew its stake in Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company's stock worth $23,994,000 after purchasing an additional 13,179 shares in the last quarter. Finally, LMR Partners LLP grew its stake in Keurig Dr Pepper by 55.5% in the third quarter. LMR Partners LLP now owns 521,000 shares of the company's stock worth $19,527,000 after purchasing an additional 186,002 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

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.