Keurig Dr Pepper (NASDAQ:KDP) Sets New 52-Week High – Here’s What Happened

Keurig Dr Pepper, Inc (NASDAQ:KDP)’s share price hit a new 52-week high on Friday. The company traded as high as $36.13 and last traded at $35.7620, with a volume of 2,490,052 shares changing hands. The stock had previously closed at $35.30.

Analysts Set New Price Targets

A number of equities research analysts have commented on KDP shares. UBS Group lifted their target price on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. TD Cowen raised their price target on Keurig Dr Pepper from $31.00 to $33.00 in a research note on Wednesday, July 8th. Bank of America lifted their price objective on Keurig Dr Pepper from $35.00 to $38.00 in a report on Friday, July 10th. Evercore upped their price objective on Keurig Dr Pepper from $30.00 to $32.00 in a research report on Thursday, October 8th. Finally, Argus restated a “buy” rating and set a $36.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, September 15th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.12.

Keurig Dr Pepper Trading Up 1.2%

The stock has a market cap of $48.63 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 1.66 and a beta of 0.40. The stock’s 50-day moving average is $32.36 and its two-hundred day moving average is $29.95. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue was up 75.6% on a year-over-year basis. Equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.30 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. Keurig Dr Pepper’s dividend payout ratio is currently 92.93%.

Insider Buying and Selling

In other news, VP Angela A. Stephens sold 9,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the completion of the sale, the vice president directly owned 55,786 shares of the company’s stock, valued at approximately $1,824,202.20. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total transaction of $390,600.00. Following the sale, the insider owned 84,171 shares of the company’s stock, valued at $2,739,766.05. The trade was a 12.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of institutional investors have recently modified their holdings of KDP. BlackRock Inc. bought a new position in Keurig Dr Pepper in the second quarter worth approximately $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Keurig Dr Pepper during the 2nd quarter valued at $767,105,000. Bank of America Corp DE purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $281,503,000. Legal & General Group Plc purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $269,336,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Keurig Dr Pepper by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,585,791 shares of the company’s stock worth $252,408,000 after buying an additional 103,505 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

About Keurig Dr Pepper

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.