Barclays Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $36.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price reduced by Barclays from $39.00 to $36.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on KDP. Wells Fargo & Company decreased their price objective on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen reduced their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Piper Sandler began coverage on shares of Keurig Dr Pepper in a report on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group reduced their target price on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Keurig Dr Pepper Stock Performance

KDP stock opened at $31.62 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The business has a 50-day moving average price of $32.28 and a 200 day moving average price of $34.19. The company has a market capitalization of $42.89 billion, a P/E ratio of 19.16, a PEG ratio of 2.20 and a beta of 0.62. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a $0.23 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. Keurig Dr Pepper’s dividend payout ratio is currently 55.76%.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of large investors have recently bought and sold shares of KDP. FMR LLC boosted its position in Keurig Dr Pepper by 9.8% in the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares in the last quarter. State Street Corp boosted its position in Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares in the last quarter. National Bank of Canada FI boosted its position in Keurig Dr Pepper by 394.3% in the 3rd quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after purchasing an additional 1,956,138 shares in the last quarter. Armistice Capital LLC boosted its position in Keurig Dr Pepper by 186.3% in the 2nd quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock worth $49,635,000 after purchasing an additional 966,924 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Keurig Dr Pepper by 5,018.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 839,057 shares of the company’s stock worth $28,025,000 after purchasing an additional 822,664 shares in the last quarter. Hedge funds and other institutional investors 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.