JPMorgan Chase & Co. Issues Positive Forecast for Keurig Dr Pepper (NASDAQ:KDP) Stock Price

Keurig Dr Pepper (NASDAQ:KDP) had its price objective raised by JPMorgan Chase & Co. from $37.00 to $40.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

KDP has been the subject of a number of other research reports. Barclays reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Keurig Dr Pepper in a report on Tuesday. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday. Morgan Stanley boosted their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, TD Cowen cut their price objective on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $33.74 on Wednesday. The stock has a market capitalization of $45.77 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.42 and a beta of 0.61. Keurig Dr Pepper has a twelve month low of $28.61 and a twelve month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $31.88 and a 200 day moving average of $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Sell-side analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.73%. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 55.76%.

Insider Activity

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Keurig Dr Pepper by 23.6% in the fourth 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 period. FMR LLC grew 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 worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the period. Wellington Management Group LLP grew its position in Keurig Dr Pepper by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock worth $1,946,561,000 after acquiring an additional 5,646,179 shares during the period. Price T Rowe Associates Inc. MD grew its position in Keurig Dr Pepper by 36.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares during the period. Finally, State Street Corp grew its position in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. 93.99% of the stock is currently owned by hedge funds and other 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.