Keurig Dr Pepper (NASDAQ:KDP) Given New $28.00 Price Target at TD Cowen

Keurig Dr Pepper (NASDAQ:KDP) had its price objective lowered by TD Cowen from $36.00 to $28.00 in a research report released on Wednesday, Marketbeat.com reports. TD Cowen currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on KDP. UBS Group decreased their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 27th. HSBC restated a “hold” rating and issued a $30.00 price target (down from $42.00) on shares of Keurig Dr Pepper in a research note on Tuesday, August 26th. BNP Paribas Exane downgraded Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research note on Monday, September 22nd. Barclays downgraded Keurig Dr Pepper from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $39.00 to $26.00 in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company decreased their price target on Keurig Dr Pepper from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.14.

Keurig Dr Pepper Stock Up 0.4%

NASDAQ:KDP opened at $25.84 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The company has a market cap of $35.10 billion, a PE ratio of 23.07, a PEG ratio of 1.41 and a beta of 0.43. Keurig Dr Pepper has a 52-week low of $25.27 and a 52-week high of $37.27. The stock has a 50-day simple moving average of $30.16 and a 200 day simple moving average of $32.52.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.Keurig Dr Pepper’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. On average, sell-side analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 82.14%.

Insider Buying and Selling

In other news, Director Robert James Gamgort sold 7,601 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the sale, the director directly owned 2,284,568 shares of the company’s stock, valued at $82,038,836.88. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company’s stock, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,601 shares of company stock valued at $14,421,512. Insiders own 0.40% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. Norges Bank acquired a new stake in Keurig Dr Pepper during the 2nd quarter worth approximately $568,525,000. Invesco Ltd. lifted its holdings in Keurig Dr Pepper by 43.2% during the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the last quarter. Finally, State Street Corp lifted its holdings in Keurig Dr Pepper by 11.2% during the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after purchasing an additional 6,412,494 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

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.