Keurig Dr Pepper (NASDAQ:KDP) Upgraded by Sanford C. Bernstein to Strong-Buy Rating

Sanford C. Bernstein upgraded shares of Keurig Dr Pepper (NASDAQ:KDP) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. UBS Group increased their target price on shares of Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company dropped their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.00.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $31.71 on Thursday. The firm has a market cap of $43.14 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. Keurig Dr Pepper has a 52-week low of $24.88 and a 52-week high of $35.94. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $28.52 and its two-hundred day moving average is $28.25.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that Keurig Dr Pepper will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. Keurig Dr Pepper’s dividend payout ratio is currently 68.15%.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of large investors have recently modified their holdings of KDP. NewEdge Advisors LLC increased its position in shares of Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock valued at $530,000 after purchasing an additional 3,627 shares during the last quarter. Empowered Funds LLC increased its position in shares of Keurig Dr Pepper by 248.0% in the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock valued at $2,389,000 after purchasing an additional 49,741 shares during the last quarter. Woodline Partners LP increased its position in shares of Keurig Dr Pepper by 49.2% in the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after purchasing an additional 33,258 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $328,000. Finally, Jump Financial LLC grew its position in shares of Keurig Dr Pepper by 253.6% in the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after buying an additional 54,571 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

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.