Keurig Dr Pepper (NASDAQ:KDP) Sees Strong Trading Volume – Here’s What Happened

Keurig Dr Pepper Inc. (NASDAQ:KDP) shares saw strong trading volume on Friday . 12,762,075 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 10,096,088 shares.The stock last traded at $34.49 and had previously closed at $34.04.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. TD Cowen lowered 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. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $42.00 in a research note on Friday, April 25th. UBS Group boosted their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Argus began coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a “buy” rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.33.

Keurig Dr Pepper Stock Performance

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 firm has a 50-day moving average price of $34.17 and a 200 day moving average price of $33.12. The firm has a market capitalization of $46.73 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Research analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.92 annualized dividend and a yield of 2.67%. Keurig Dr Pepper’s dividend payout ratio is presently 83.64%.

Insiders Place Their Bets

In other news, Director Robert James Gamgort sold 208,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $34.12, for a total transaction of $7,096,960.00. Following the completion of the transaction, the director now directly owns 2,846,490 shares of the company’s stock, valued at approximately $97,122,238.80. The trade was a 6.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the completion of the transaction, the insider now owns 134,113,479 shares of the company’s stock, valued at $4,378,805,089.35. This represents a 38.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,837,350 shares of company stock worth $2,771,297,650 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of institutional investors and hedge funds have recently modified their holdings of the company. ST Germain D J Co. Inc. purchased a new stake in Keurig Dr Pepper during the 1st quarter worth about $27,000. New Age Alpha Advisors LLC boosted its holdings in Keurig Dr Pepper by 82.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Keurig Dr Pepper in the fourth quarter valued at approximately $37,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Keurig Dr Pepper during the fourth quarter worth approximately $42,000. Finally, Continuum Advisory LLC lifted its position in shares of Keurig Dr Pepper by 82.5% during the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company’s stock worth $46,000 after buying an additional 602 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.