Keurig Dr Pepper (NASDAQ:KDP) Given New $35.00 Price Target at TD Cowen

Keurig Dr Pepper (NASDAQ:KDP) had its target price raised by TD Cowen from $32.00 to $35.00 in a research report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on KDP. Jefferies Financial Group cut their price objective on Keurig Dr Pepper from $37.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday, March 27th. Wedbush decreased their price objective on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an outperform rating for the company in a report on Monday, February 26th. Barclays increased their target price on shares of Keurig Dr Pepper from $32.00 to $36.00 and gave the stock an overweight rating in a report on Friday, April 12th. Morgan Stanley decreased their price target on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an equal weight rating for the company in a report on Monday, February 26th. Finally, Royal Bank of Canada cut their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set an outperform rating on the stock in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $36.33.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $33.72 on Friday. Keurig Dr Pepper has a 12 month low of $27.66 and a 12 month high of $34.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.25. The firm has a market capitalization of $46.79 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.57 and a beta of 0.66. The company’s fifty day moving average price is $30.41 and its two-hundred day moving average price is $31.08.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, research analysts anticipate that Keurig Dr Pepper will post 1.91 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, March 27th. Keurig Dr Pepper’s payout ratio is currently 55.48%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, CEO Robert James Gamgort purchased 171,821 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $29.10 per share, with a total value of $4,999,991.10. Following the completion of the acquisition, the chief executive officer now owns 3,179,917 shares of the company’s stock, valued at $92,535,584.70. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Robert James Gamgort acquired 171,821 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $29.10 per share, for a total transaction of $4,999,991.10. Following the completion of the acquisition, the chief executive officer now directly owns 3,179,917 shares of the company’s stock, valued at approximately $92,535,584.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings B.V. Jab sold 13,043,478 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $28.90, for a total transaction of $376,956,514.20. Following the transaction, the insider now owns 283,443,879 shares in the company, valued at approximately $8,191,528,103.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,012,132 shares of company stock worth $2,890,354,861. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in Keurig Dr Pepper by 3.9% during the third quarter. AE Wealth Management LLC now owns 28,992 shares of the company’s stock worth $915,000 after buying an additional 1,093 shares in the last quarter. IFP Advisors Inc raised its position in shares of Keurig Dr Pepper by 271.5% during the third quarter. IFP Advisors Inc now owns 4,852 shares of the company’s stock worth $153,000 after purchasing an additional 3,546 shares during the period. Caprock Group LLC lifted its holdings in shares of Keurig Dr Pepper by 10.1% during the third quarter. Caprock Group LLC now owns 18,192 shares of the company’s stock valued at $578,000 after purchasing an additional 1,676 shares during the last quarter. CX Institutional boosted its position in shares of Keurig Dr Pepper by 6.2% in the 3rd quarter. CX Institutional now owns 8,483 shares of the company’s stock valued at $268,000 after purchasing an additional 492 shares during the period. Finally, Czech National Bank increased its stake in Keurig Dr Pepper by 76.3% in the 3rd quarter. Czech National Bank now owns 175,833 shares of the company’s stock worth $5,551,000 after purchasing an additional 76,125 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

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.