Keurig Dr Pepper (NASDAQ:KDP) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Keurig Dr Pepper (NASDAQ:KDP) had its target price trimmed by Wells Fargo & Company from $42.00 to $40.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on KDP. Citigroup reduced their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Barclays reduced their target price on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Royal Bank of Canada increased their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Cowen increased their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $31.12 on Tuesday. Keurig Dr Pepper has a 52 week low of $28.61 and a 52 week high of $38.28. The firm has a market capitalization of $42.21 billion, a P/E ratio of 18.86, a PEG ratio of 2.57 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $32.49 and a 200-day moving average price of $34.31.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts anticipate that Keurig Dr Pepper will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.96%. Keurig Dr Pepper’s dividend payout ratio is currently 55.76%.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in Keurig Dr Pepper in the third quarter worth $25,000. LRI Investments LLC purchased a new stake in Keurig Dr Pepper in the third quarter worth $35,000. Hexagon Capital Partners LLC increased its stake in Keurig Dr Pepper by 105.6% in the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock worth $39,000 after purchasing an additional 530 shares during the period. Brooklyn Investment Group purchased a new stake in Keurig Dr Pepper in the third quarter worth $61,000. Finally, Federated Hermes Inc. increased its stake in Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after purchasing an additional 314 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Company Profile

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.