Keurig Dr Pepper, Inc (NASDAQ:KDP) Receives $34.00 Average Price Target from Brokerages

Keurig Dr Pepper, Inc (NASDAQ:KDP) has been given an average rating of “Moderate Buy” by the eighteen research firms that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $34.1250.

A number of equities research analysts have recently issued reports on KDP shares. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 8th. Wells Fargo & Company set a $37.00 price target on Keurig Dr Pepper in a research report on Wednesday, July 1st. Citigroup lifted their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Zacks Research downgraded Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd.

Keurig Dr Pepper Trading Down 2.4%

Keurig Dr Pepper stock opened at $29.30 on Friday. The firm has a market cap of $39.86 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. Keurig Dr Pepper has a 1 year low of $24.88 and a 1 year high of $35.94. The firm’s 50 day moving average price is $31.17 and its two-hundred day moving average price is $29.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%.The company’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, research analysts predict that Keurig Dr Pepper will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Keurig Dr Pepper’s payout ratio is currently 92.93%.

Hedge Funds Weigh In On Keurig Dr Pepper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Keurig Dr Pepper by 290.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Merit Financial Group LLC raised its holdings in Keurig Dr Pepper by 194.6% during the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock valued at $2,438,000 after buying an additional 57,500 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Keurig Dr Pepper by 47.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock valued at $5,030,000 after buying an additional 57,797 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after buying an additional 47,184 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Keurig Dr Pepper by 4,366.8% during the 4th quarter. M&T Bank Corp now owns 1,370,428 shares of the company’s stock worth $38,386,000 after acquiring an additional 1,339,748 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.