Keurig Dr Pepper (NASDAQ:KDP) Given New $36.00 Price Target at TD Cowen

Keurig Dr Pepper (NASDAQ:KDP - Free Report) had its price objective lowered by TD Cowen from $39.00 to $36.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also commented on the company. Citigroup reduced their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Keurig Dr Pepper from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday. Royal Bank of Canada boosted their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Barclays cut their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price target for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Six equities research 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, the company has an average rating of "Moderate Buy" and a consensus price target of $37.93.

Keurig Dr Pepper Price Performance

NASDAQ KDP traded up $0.44 during trading hours on Wednesday, hitting $31.12. 8,401,403 shares of the company's stock traded hands, compared to its average volume of 6,875,379. The company has a market capitalization of $42.21 billion, a PE ratio of 18.86, a PEG ratio of 2.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper has a 52-week low of $28.61 and a 52-week high of $38.28. The firm's 50-day moving average is $32.57 and its 200-day moving average is $34.35.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the firm posted $0.48 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts forecast that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, January 3rd. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Keurig Dr Pepper

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Hawaiian Bank raised its holdings in Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company's stock valued at $250,000 after acquiring an additional 384 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Keurig Dr Pepper by 39.5% in the 4th quarter. Fulton Bank N.A. now owns 49,347 shares of the company's stock valued at $1,585,000 after purchasing an additional 13,971 shares in the last quarter. Kings Path Partners LLC lifted its position in shares of Keurig Dr Pepper by 16.4% during the 4th quarter. Kings Path Partners LLC now owns 34,967 shares of the company's stock worth $1,123,000 after purchasing an additional 4,938 shares during the last quarter. Pensionfund Sabic grew its stake in shares of Keurig Dr Pepper by 53.1% during the fourth quarter. Pensionfund Sabic now owns 49,000 shares of the company's stock worth $1,574,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Keurig Dr Pepper by 42.1% during the fourth quarter. Nordea Investment Management AB now owns 72,577 shares of the company's stock worth $2,327,000 after purchasing an additional 21,501 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

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.