Wells Fargo & Company Trims Keurig Dr Pepper (NASDAQ:KDP) Target Price to $42.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price trimmed by Wells Fargo & Company from $43.00 to $42.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently commented on KDP. Barclays boosted their price target on shares of Keurig Dr Pepper from $37.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $43.00 in a report on Monday, September 23rd. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, TD Cowen upped their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $34.58 on Friday. The firm has a market cap of $46.88 billion, a PE ratio of 22.31, a PEG ratio of 2.73 and a beta of 0.62. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year high of $38.28. The company has a fifty day moving average price of $36.73 and a 200 day moving average price of $34.67.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm 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 company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio is presently 59.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Michigan Retirement System lifted its stake in Keurig Dr Pepper by 3.6% in the 1st quarter. State of Michigan Retirement System now owns 285,400 shares of the company’s stock valued at $8,753,000 after purchasing an additional 9,800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Keurig Dr Pepper by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,084,471 shares of the company’s stock valued at $94,601,000 after purchasing an additional 9,674 shares during the last quarter. Norden Group LLC bought a new position in Keurig Dr Pepper in the 1st quarter valued at approximately $1,315,000. Maryland State Retirement & Pension System raised its stake in shares of Keurig Dr Pepper by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 74,810 shares of the company’s stock valued at $2,297,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Keurig Dr Pepper by 254.6% during the first quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after acquiring an additional 68,840 shares during the last quarter. 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.