Keurig Dr Pepper (NASDAQ:KDP) Given New $40.00 Price Target at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price target reduced by JPMorgan Chase & Co. from $41.00 to $40.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

KDP has been the topic of a number of other research reports. Citigroup raised shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $43.00 in a research note on Monday, September 23rd. Wells Fargo & Company decreased their target price on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price target on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Barclays upped their price objective on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, TD Cowen lifted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock traded down $0.36 during trading on Friday, reaching $34.58. 9,207,294 shares of the stock traded hands, compared to its average volume of 8,694,862. Keurig Dr Pepper has a 52-week low of $28.61 and a 52-week high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. The business has a fifty day simple moving average of $36.73 and a two-hundred day simple moving average of $34.62. The company has a market capitalization of $46.88 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.73 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Sell-side analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.66%. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 59.35%.

Institutional Investors Weigh In On Keurig Dr Pepper

Several large investors have recently added to or reduced their stakes in KDP. Price T Rowe Associates Inc. MD boosted its holdings in shares of Keurig Dr Pepper by 107.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Keurig Dr Pepper by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock worth $2,786,075,000 after buying an additional 7,825,418 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Keurig Dr Pepper by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after buying an additional 1,878,597 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Keurig Dr Pepper during the 2nd quarter worth $37,643,000. Finally, Armistice Capital LLC increased its stake in shares of Keurig Dr Pepper by 186.3% during the second quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after buying an additional 966,924 shares during the period. 85.23% of the stock is 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.