Keurig Dr Pepper (NASDAQ:KDP) Given New $40.00 Price Target at Citigroup

Keurig Dr Pepper (NASDAQ:KDP) had its price target trimmed by Citigroup from $43.00 to $40.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on KDP. Wells Fargo & Company dropped their price target on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada increased their price target on Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday. Barclays upped their price objective on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, TD Cowen upped their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Keurig Dr Pepper Trading Down 1.0 %

Shares of Keurig Dr Pepper stock opened at $34.58 on Friday. Keurig Dr Pepper has a 12-month low of $28.61 and a 12-month high of $38.28. The stock has a market cap of $46.88 billion, a P/E ratio of 22.31, a P/E/G ratio of 2.73 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $36.73 and its 200-day moving average is $34.62.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is 59.35%.

Institutional Trading of Keurig Dr Pepper

Several large investors have recently modified their holdings of the stock. CX Institutional grew its holdings in shares of Keurig Dr Pepper by 3.6% during the 3rd quarter. CX Institutional now owns 8,129 shares of the company’s stock worth $305,000 after purchasing an additional 283 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Keurig Dr Pepper by 3.6% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock valued at $320,000 after buying an additional 300 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after buying an additional 301 shares in the last quarter. Federated Hermes Inc. boosted 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 valued at $59,000 after buying an additional 314 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Keurig Dr Pepper by 29.0% in the second quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after buying an additional 392 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.