Bank of America Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $33.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price lowered by Bank of America from $41.00 to $33.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group dropped their target price on Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. TD Cowen lowered their price objective on Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Cowen reissued a “hold” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. JPMorgan Chase & Co. lowered their price objective on Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, July 17th. Finally, Piper Sandler lowered their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.00.

Keurig Dr Pepper Stock Down 0.1%

Shares of Keurig Dr Pepper stock opened at $25.82 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper has a 1 year low of $25.03 and a 1 year high of $37.27. The stock has a 50-day moving average price of $29.39 and a 200 day moving average price of $32.25. The company has a market cap of $35.07 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.43 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

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

Insider Activity at Keurig Dr Pepper

In other news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the sale, the insider owned 82,511 shares of the company’s stock, valued at approximately $2,777,320.26. This trade represents a 12.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert James Gamgort sold 7,601 shares of Keurig Dr Pepper 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 sale, the director directly owned 2,284,568 shares in the company, valued at $82,038,836.88. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,601 shares of company stock worth $14,421,512 in the last three months. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of Keurig Dr Pepper during the 1st quarter worth approximately $25,000. NewSquare Capital LLC raised its position in Keurig Dr Pepper by 94.1% in the 2nd quarter. NewSquare Capital LLC now owns 796 shares of the company’s stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in Keurig Dr Pepper in the 2nd quarter valued at $26,000. AlphaCore Capital LLC bought a new position in Keurig Dr Pepper in the 2nd quarter valued at $26,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Keurig Dr Pepper by 102,300.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company’s stock valued at $34,000 after purchasing an additional 1,023 shares during the last quarter. Institutional investors own 93.99% 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.