Keurig Dr Pepper (NASDAQ:KDP) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its target price reduced by JPMorgan Chase & Co. from $41.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. TD Cowen boosted their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Wells Fargo & Company lowered their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday. Citigroup upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $43.00 in a research note on Monday, September 23rd. Evercore ISI upgraded Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Finally, Barclays lifted their target price on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $33.86 on Friday. Keurig Dr Pepper has a twelve month low of $28.61 and a twelve month high of $38.28. The stock has a market capitalization of $45.90 billion, a P/E ratio of 21.85, a PEG ratio of 2.73 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 business’s fifty day moving average price is $36.69 and its 200 day moving average price is $34.69.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.48 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Keurig Dr Pepper will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s payout ratio is currently 59.35%.

Hedge Funds Weigh In On Keurig Dr Pepper

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $725,487,000 after acquiring an additional 12,259,471 shares in the last quarter. Vanguard Group Inc. lifted its position in Keurig Dr Pepper by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 90,840,391 shares of the company’s stock valued at $2,786,075,000 after acquiring an additional 7,825,418 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Keurig Dr Pepper by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after buying an additional 1,878,597 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Keurig Dr Pepper during the 2nd quarter worth about $37,643,000. Finally, Armistice Capital LLC lifted its position in Keurig Dr Pepper by 186.3% during the 2nd quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock worth $49,635,000 after buying an additional 966,924 shares in the last quarter. 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.