TD Cowen Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $36.00

Keurig Dr Pepper (NASDAQ:KDP) had its price target decreased by TD Cowen from $39.00 to $36.00 in a research report sent to investors on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

KDP has been the topic of a number of other research reports. Citigroup cut their price target on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler started 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. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price target for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, Barclays cut their price objective on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $30.38 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $41.21 billion, a PE ratio of 18.41, a P/E/G ratio of 2.57 and a beta of 0.62. Keurig Dr Pepper has a 12 month low of $28.61 and a 12 month high of $38.28. The stock has a fifty day moving average price of $32.45 and a 200-day moving average price of $34.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 3.03%. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insider Transactions at Keurig Dr Pepper

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 stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the transaction, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its position in shares of Keurig Dr Pepper by 13.4% during the 2nd quarter. Private Advisor Group LLC now owns 17,310 shares of the company’s stock valued at $578,000 after buying an additional 2,045 shares in the last quarter. Savant Capital LLC lifted its holdings in Keurig Dr Pepper by 161.5% during the second quarter. Savant Capital LLC now owns 17,597 shares of the company’s stock valued at $588,000 after purchasing an additional 10,869 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at about $982,000. Caprock Group LLC increased its stake in shares of Keurig Dr Pepper by 22.3% during the second quarter. Caprock Group LLC now owns 22,051 shares of the company’s stock worth $741,000 after purchasing an additional 4,025 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in shares of Keurig Dr Pepper by 22.5% during the 2nd quarter. Ballentine Partners LLC now owns 18,840 shares of the company’s stock worth $629,000 after purchasing an additional 3,459 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

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.