Keurig Dr Pepper (NASDAQ:KDP) Trading Up 4.9% After Earnings Beat

Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) shot up 4.9% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $35.78 and last traded at $35.80. 6,343,330 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 8,868,965 shares. The stock had previously closed at $34.12.

The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is currently 55.76%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research report on Tuesday. They set a “neutral” rating and a $35.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday. Finally, TD Cowen reduced their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.50.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This represents a 1.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Keurig Dr Pepper by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after acquiring an additional 22,856,757 shares during the last quarter. FMR LLC boosted its position in Keurig Dr Pepper by 9.8% in the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after buying an additional 9,105,164 shares during the last quarter. Wellington Management Group LLP raised its position in Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock worth $1,946,561,000 after buying an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock valued at $1,755,564,000 after buying an additional 14,473,054 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after buying an additional 4,970,467 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

The firm has a fifty day moving average of $31.82 and a 200 day moving average of $33.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a market capitalization of $48.34 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61.

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.