Keurig Dr Pepper (NASDAQ:KDP) PT Raised to $40.00 at TD Cowen

Keurig Dr Pepper (NASDAQ:KDP) had its price target boosted by TD Cowen from $35.00 to $40.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other brokerages also recently weighed in on KDP. Barclays lowered their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an overweight rating for the company in a report on Friday, July 19th. Wells Fargo & Company raised their target price 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 upgraded Keurig Dr Pepper from a sell rating to a hold rating and boosted their price target for the stock from $27.00 to $34.00 in a research note on Monday, June 17th. Citigroup upgraded Keurig Dr Pepper from a neutral rating to a buy rating and lifted their price objective for the stock from $36.00 to $43.00 in a report on Monday, September 23rd. Finally, UBS Group lifted their price target on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a buy rating in a research note on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $37.53.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $37.42 on Thursday. Keurig Dr Pepper has a twelve month low of $27.66 and a twelve month high of $38.28. The firm has a market capitalization of $50.74 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.86 and a beta of 0.62. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $35.84 and its 200 day simple moving average is $33.77.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.48%.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds and other institutional investors have recently modified their holdings of KDP. Blue Trust Inc. grew its position in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after acquiring an additional 643 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Keurig Dr Pepper by 617.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after acquiring an additional 301 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Keurig Dr Pepper during the second quarter worth about $35,000. Finally, Riverview Trust Co bought a new position in shares of Keurig Dr Pepper during the second quarter worth about $39,000. Institutional investors and hedge funds 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.