Keurig Dr Pepper (NASDAQ:KDP) Sees Strong Trading Volume – Time to Buy?

Keurig Dr Pepper, Inc (NASDAQ:KDP) saw strong trading volume on Friday. Approximately 19,559,873 shares changed hands during trading, an increase of 57% from the average daily volume of 12,492,615 shares. The stock last traded at $36.2240 and had previously closed at $35.42.

Top Keurig Dr Pepper Stories

Here are a few of the latest stories about KDP:

• Positive Sentiment: KDP’s Dr Pepper brand is expanding its foodservice reach through a fountain-distribution agreement with Jersey Mike’s, creating an additional opportunity to build sales and capitalize on brand momentum. Article: Can Keurig’s New Fountain Distribution Gains Boost Its Reach?
• Negative Sentiment: The company priced an offering of 57,971,015 shares at $34.50 each, raising approximately $2 billion. Issuing new shares can dilute existing shareholders and likely contributed to the stock’s decline. KDP says it plans to use the proceeds to reduce debt, which could strengthen its balance sheet, but investors are weighing that benefit against dilution. Article: Keurig Dr Pepper Announces Pricing of Public Offering of Common Stock

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KDP. Wells Fargo & Company lifted their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. TD Cowen upped their price target on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, November 4th. BNP Paribas Exane raised their price objective on shares of Keurig Dr Pepper from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Keurig Dr Pepper in a research report on Wednesday, November 4th. Finally, Morgan Stanley lifted their price objective on shares of Keurig Dr Pepper from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Keurig Dr Pepper has an average rating of “Moderate Buy” and an average target price of $37.29.

Keurig Dr Pepper Stock Performance

The stock has a market capitalization of $49.37 billion, a PE ratio of 33.32, a P/E/G ratio of 1.82 and a beta of 0.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.32 and a current ratio of 0.52. The firm has a 50 day moving average of $33.26 and a 200-day moving average of $30.39.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.33 billion. Keurig Dr Pepper had a return on equity of 11.27% and a net margin of 7.12%. The business’s revenue for the quarter was up 70.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. Research analysts forecast that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, September 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, September 28th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 84.40%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total value of $390,600.00. Following the completion of the sale, the insider owned 84,171 shares in the company, valued at $2,739,766.05. This represents a 12.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aaron E. Alt bought 7,862 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $31.83 per share, with a total value of $250,247.46. Following the purchase, the director directly owned 7,862 shares in the company, valued at approximately $250,247.46. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of hedge funds have recently modified their holdings of KDP. Legal & General Group Plc acquired a new stake in shares of Keurig Dr Pepper during the 2nd quarter valued at about $269,336,000. Lone Peak Global Investors LLC increased its holdings in Keurig Dr Pepper by 6.2% in the second quarter. Lone Peak Global Investors LLC now owns 1,098,204 shares of the company’s stock worth $35,944,000 after buying an additional 63,646 shares during the last quarter. Moore Capital Management LP acquired a new position in Keurig Dr Pepper in the second quarter worth approximately $10,584,000. Saudi Central Bank increased its holdings in Keurig Dr Pepper by 89.7% in the second quarter. Saudi Central Bank now owns 90,351 shares of the company’s stock worth $2,957,000 after buying an additional 42,712 shares during the last quarter. Finally, Nykredit A S bought a new position in Keurig Dr Pepper during the second quarter valued at approximately $8,341,000. 93.99% of the stock is owned by institutional investors and hedge funds.

About Keurig Dr Pepper

Keurig Dr Pepper Inc. (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods. The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.