Keurig Dr Pepper (NASDAQ:KDP) Given New $38.00 Price Target at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price target lifted by JPMorgan Chase & Co. from $33.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on KDP. Barclays upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a report on Wednesday, July 1st. The Goldman Sachs Group upgraded Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a research report on Thursday, June 25th. Finally, Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.40.

Keurig Dr Pepper Trading Down 1.8%

KDP stock opened at $29.67 on Thursday. Keurig Dr Pepper has a 52 week low of $24.88 and a 52 week high of $35.94. The company has a market capitalization of $40.37 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The company’s 50-day simple moving average is $30.88 and its 200 day simple moving average is $28.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.23 per share. The ex-dividend date was Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. raised its position in shares of Keurig Dr Pepper by 290.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after acquiring an additional 39,156 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Keurig Dr Pepper by 194.6% in the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock worth $2,438,000 after acquiring an additional 57,500 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock valued at $5,030,000 after acquiring an additional 57,797 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock valued at $43,489,000 after acquiring an additional 47,184 shares during the last quarter. Finally, Sendero Wealth Management LLC increased its position in Keurig Dr Pepper by 31.8% during the 4th quarter. Sendero Wealth Management LLC now owns 318,802 shares of the company’s stock valued at $8,930,000 after purchasing an additional 76,886 shares during the period. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.