Keurig Dr Pepper (NASDAQ:KDP) Given New $40.00 Price Target at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price target upped by JPMorgan Chase & Co. from $37.00 to $40.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

KDP has been the topic of several other reports. Barclays reiterated an “overweight” rating and issued a $36.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday. 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. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, December 12th. Piper Sandler began coverage on Keurig Dr Pepper in a research note on Tuesday. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Keurig Dr Pepper Stock Down 3.4 %

NASDAQ:KDP opened at $33.74 on Wednesday. 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 stock’s fifty day moving average is $31.88 and its two-hundred day moving average is $33.94. Keurig Dr Pepper has a 52 week low of $28.61 and a 52 week high of $38.28. The stock has a market capitalization of $45.77 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.07 billion for 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%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Research analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 55.76%.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the acquisition, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds have recently made changes to their positions in the company. Leigh Baldwin & CO. LLC purchased a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $297,000. Aurdan Capital Management LLC purchased a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $2,593,000. Mackenzie Financial Corp grew its holdings in shares of Keurig Dr Pepper by 12.3% during the fourth quarter. Mackenzie Financial Corp now owns 378,935 shares of the company’s stock worth $12,171,000 after buying an additional 41,560 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Keurig Dr Pepper by 69.3% during the fourth quarter. Forum Financial Management LP now owns 23,409 shares of the company’s stock worth $752,000 after buying an additional 9,580 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $252,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

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.