JPMorgan Chase & Co. Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $36.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price trimmed by JPMorgan Chase & Co. from $37.00 to $36.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also commented on KDP. BNP Paribas started coverage on Keurig Dr Pepper in a research note on Monday, June 24th. They set a neutral rating and a $36.00 price target for the company. Wells Fargo & Company increased their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an overweight rating in a research note on Wednesday, June 5th. Truist Financial raised Keurig Dr Pepper from a sell rating to a hold rating and increased their price target for the company from $27.00 to $34.00 in a research note on Monday, June 17th. Barclays upped their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an overweight rating in a research report on Monday, April 29th. Finally, UBS Group upped their price objective on Keurig Dr Pepper from $39.00 to $40.00 and gave the company a buy rating in a research report on Monday, June 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of Moderate Buy and a consensus target price of $36.57.

Keurig Dr Pepper Stock Performance

NASDAQ KDP opened at $32.62 on Wednesday. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 2.45 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 0.52. The business has a 50-day moving average price of $33.80 and a 200-day moving average price of $32.09. Keurig Dr Pepper has a twelve month low of $27.66 and a twelve month high of $35.00.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a return on equity of 10.18% and a net margin of 14.52%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.215 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.86 annualized dividend and a yield of 2.64%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.48%.

Insider Buying and Selling

In related news, insider Roger Frederick Johnson sold 31,227 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $33.82, for a total value of $1,056,097.14. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $3,382,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Keurig Dr Pepper news, insider Patrick Minogue sold 17,293 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $33.59, for a total transaction of $580,871.87. Following the sale, the insider now owns 67,103 shares of the company’s stock, valued at approximately $2,253,989.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Roger Frederick Johnson sold 31,227 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $33.82, for a total value of $1,056,097.14. Following the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $3,382,000. The disclosure for this sale can be found here. Insiders have sold a total of 81,520 shares of company stock valued at $2,750,739 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Keurig Dr Pepper

Several hedge funds and other institutional investors have recently bought and sold shares of KDP. Capital World Investors boosted its position in shares of Keurig Dr Pepper by 14.6% in the 4th quarter. Capital World Investors now owns 108,032,566 shares of the company’s stock worth $3,599,652,000 after purchasing an additional 13,738,345 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Keurig Dr Pepper by 107.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,654,577 shares of the company’s stock worth $725,487,000 after purchasing an additional 12,259,471 shares in the last quarter. Norges Bank acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter worth $317,979,000. Vanguard Group Inc. boosted its position in shares of Keurig Dr Pepper by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock worth $2,786,075,000 after purchasing an additional 7,825,418 shares in the last quarter. Finally, Pathstone Holdings LLC acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter worth $105,569,000. Institutional investors own 85.23% 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.