Keurig Dr Pepper (NASDAQ:KDP) Raised to “Buy” at Citigroup

Citigroup upgraded shares of Keurig Dr Pepper (NASDAQ:KDP) from a neutral rating to a buy rating in a report issued on Monday, Marketbeat Ratings reports. Citigroup currently has $43.00 price target on the stock, up from their prior price target of $36.00.

KDP has been the subject of a number of other reports. UBS Group boosted their price target on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the company a buy rating in a research report on Monday, June 10th. Royal Bank of Canada reaffirmed an outperform rating and set a $41.00 price target on shares of Keurig Dr Pepper in a research report on Friday, July 26th. Evercore ISI raised Keurig Dr Pepper to a hold rating in a report on Thursday, September 5th. Wells Fargo & Company raised their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Wednesday, June 5th. Finally, Barclays decreased their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an overweight rating for the company in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper has an average rating of Moderate Buy and an average target price of $37.20.

Keurig Dr Pepper Trading Down 0.7 %

KDP opened at $37.58 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. Keurig Dr Pepper has a one year low of $27.66 and a one year high of $38.28. The company has a market cap of $50.96 billion, a P/E ratio of 24.25, a PEG ratio of 2.86 and a beta of 0.62. The business’s 50-day simple moving average is $35.67 and its 200-day simple moving average is $33.65.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 annualized dividend and a yield of 2.45%. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Institutional Investors Weigh In On Keurig Dr Pepper

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Keurig Dr Pepper by 14.6% during the 4th quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock worth $3,599,652,000 after acquiring an additional 13,738,345 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Keurig Dr Pepper by 107.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock valued at $725,487,000 after purchasing an additional 12,259,471 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Keurig Dr Pepper by 9.4% in the first quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after buying an additional 7,825,418 shares in the last quarter. Pathstone Holdings LLC acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth $105,569,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Keurig Dr Pepper by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after buying an additional 1,878,597 shares in the last quarter. 85.23% 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.