Keurig Dr Pepper (NASDAQ:KDP) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Keurig Dr Pepper (NASDAQ:KDP) had its price objective decreased by Wells Fargo & Company from $42.00 to $40.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Citigroup lowered their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Barclays lowered their price target on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. TD Cowen raised their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Piper Sandler began coverage on Keurig Dr Pepper in a report on Tuesday. They issued a “neutral” rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.21.

Keurig Dr Pepper Price Performance

KDP stock opened at $30.68 on Tuesday. The business’s fifty day moving average price is $32.57 and its 200 day moving average price is $34.35. Keurig Dr Pepper has a 12-month low of $28.61 and a 12-month high of $38.28. The company has a market capitalization of $41.62 billion, a PE ratio of 18.59, a P/E/G ratio of 2.57 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. On average, sell-side analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.00%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.76%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB grew its stake in shares of Keurig Dr Pepper by 57.7% during the 3rd quarter. Swedbank AB now owns 733,823 shares of the company’s stock worth $27,504,000 after purchasing an additional 268,555 shares during the period. Pathstone Holdings LLC grew its holdings in Keurig Dr Pepper by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock valued at $122,038,000 after buying an additional 22,657 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after acquiring an additional 41,466 shares during the last quarter. LMR Partners LLP lifted its position in shares of Keurig Dr Pepper by 55.5% in the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock valued at $19,527,000 after acquiring an additional 186,002 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its stake in shares of Keurig Dr Pepper by 9.4% during the third quarter. Curi RMB Capital LLC now owns 628,042 shares of the company’s stock valued at $23,539,000 after acquiring an additional 54,167 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

About Keurig Dr Pepper

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.