Wells Fargo & Company Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $40.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price reduced by Wells Fargo & Company from $42.00 to $40.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group decreased their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler began coverage on shares of Keurig Dr Pepper in a research note on Tuesday. They issued a “neutral” rating and a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Citigroup reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.

Keurig Dr Pepper Trading Up 1.4 %

KDP stock opened at $31.12 on Tuesday. The company has a market capitalization of $42.21 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. Keurig Dr Pepper has a one year low of $28.61 and a one year high of $38.28. The company’s 50 day moving average price is $32.49 and its two-hundred day moving average price is $34.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53.

Keurig Dr Pepper (NASDAQ:KDP) last issued its 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 15.04% and a return on equity of 10.45%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

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

Insider Buying and Selling

In related 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 shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank lifted its stake in Keurig Dr Pepper by 5.2% during the 4th quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock valued at $250,000 after acquiring an additional 384 shares during the period. Fulton Bank N.A. lifted its stake in Keurig Dr Pepper by 39.5% during the 4th quarter. Fulton Bank N.A. now owns 49,347 shares of the company’s stock valued at $1,585,000 after acquiring an additional 13,971 shares during the period. Kings Path Partners LLC lifted its stake in Keurig Dr Pepper by 16.4% during the 4th quarter. Kings Path Partners LLC now owns 34,967 shares of the company’s stock valued at $1,123,000 after acquiring an additional 4,938 shares during the period. Pensionfund Sabic lifted its stake in Keurig Dr Pepper by 53.1% during the 4th quarter. Pensionfund Sabic now owns 49,000 shares of the company’s stock valued at $1,574,000 after acquiring an additional 17,000 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Keurig Dr Pepper by 42.1% during the 4th quarter. Nordea Investment Management AB now owns 72,577 shares of the company’s stock valued at $2,327,000 after acquiring an additional 21,501 shares during the period. 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.