TD Cowen Boosts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $35.00

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

A number of other analysts have also recently issued reports on KDP. Royal Bank of Canada lowered their target price on Keurig Dr Pepper from $42.00 to $41.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Morgan Stanley dropped their price objective on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an equal weight rating on the stock in a report on Monday, February 26th. Jefferies Financial Group reduced their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Wedbush dropped their price target on Keurig Dr Pepper from $37.00 to $35.00 and set an outperform rating on the stock in a research note on Monday, February 26th. Finally, Barclays boosted their price target on Keurig Dr Pepper from $32.00 to $36.00 and gave the company an overweight rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $36.64.

Keurig Dr Pepper Trading Down 0.1 %

Shares of NASDAQ KDP opened at $33.70 on Friday. Keurig Dr Pepper has a twelve month low of $27.66 and a twelve month high of $34.65. The stock has a market cap of $45.68 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.56 and a beta of 0.66. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $30.46 and its 200-day moving average is $31.14.

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 the consensus estimate of $0.34 by $0.04. Keurig Dr Pepper had a return on equity of 10.18% and a net margin of 14.52%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the business posted $0.34 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Keurig Dr Pepper will post 1.91 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Keurig Dr Pepper

Institutional investors and hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC increased its stake in shares of Keurig Dr Pepper by 24.3% during the fourth quarter. DAVENPORT & Co LLC now owns 2,604,968 shares of the company’s stock worth $86,820,000 after purchasing an additional 509,393 shares during the period. Arizona State Retirement System grew its holdings in Keurig Dr Pepper by 14.2% in the 4th quarter. Arizona State Retirement System now owns 294,833 shares of the company’s stock valued at $9,824,000 after buying an additional 36,560 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Keurig Dr Pepper by 43.8% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,099,145 shares of the company’s stock worth $36,624,000 after buying an additional 334,954 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Keurig Dr Pepper during the third quarter worth $245,000. Finally, Morgan Stanley boosted its position in shares of Keurig Dr Pepper by 15.0% in the third quarter. Morgan Stanley now owns 7,994,795 shares of the company’s stock valued at $252,396,000 after acquiring an additional 1,044,167 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.