Keurig Dr Pepper (NASDAQ:KDP) Sets New 12-Month High Following Dividend Announcement

Keurig Dr Pepper Inc. (NASDAQ:KDP)’s share price hit a new 52-week high on Friday after the company announced a dividend. The company traded as high as $37.59 and last traded at $37.57, with a volume of 848275 shares trading hands. The stock had previously closed at $37.05.

The newly announced dividend which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Barclays reduced their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Wells Fargo & Company boosted their price objective on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Finally, Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their target price for the stock from $27.00 to $34.00 in a report on Monday, June 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Keurig Dr Pepper Stock Up 1.5 %

The firm has a market capitalization of $51.00 billion, a P/E ratio of 24.26, a PEG ratio of 2.79 and a beta of 0.62. The firm’s fifty day moving average price is $34.85 and its 200-day moving average price is $33.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Keurig Dr Pepper’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Institutional Trading of Keurig Dr Pepper

Several institutional investors and hedge funds have recently bought and sold shares of KDP. Blue Trust Inc. lifted its holdings in shares of Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Keurig Dr Pepper by 617.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares during the period. Farmers & Merchants Investments Inc. grew its stake in Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Keurig Dr Pepper during the 2nd quarter valued at about $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 85.23% 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.