Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $42.00 at Royal Bank of Canada

Keurig Dr Pepper (NASDAQ:KDP) had its price objective hoisted by Royal Bank of Canada from $41.00 to $42.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

KDP has been the topic of several other reports. JPMorgan Chase & Co. reduced their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen increased their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their target price on Keurig Dr Pepper from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Citigroup raised Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their price target for the company from $36.00 to $43.00 in a report on Monday, September 23rd. Finally, Barclays increased their target price on Keurig Dr Pepper from $37.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Trading Down 2.1 %

Shares of KDP stock opened at $33.86 on Friday. The business’s fifty day moving average price is $36.69 and its 200 day moving average price is $34.69. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year high of $38.28. The firm has a market capitalization of $45.90 billion, a PE ratio of 21.85, a P/E/G ratio of 2.73 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.32% and a net margin of 14.47%. Keurig Dr Pepper’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. As a group, sell-side analysts forecast that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.23 dividend. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 59.35%.

Hedge Funds Weigh In On Keurig Dr Pepper

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Keurig Dr Pepper by 312.1% in the 2nd 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. boosted its position in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after buying an additional 685 shares during the period. Farmers & Merchants Investments Inc. boosted its position in Keurig Dr Pepper by 51.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Keurig Dr Pepper during the second quarter valued at $35,000. Finally, Riverview Trust Co bought a new position in Keurig Dr Pepper during the second quarter valued at about $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.