Brokerages Set Keurig Dr Pepper, Inc (NASDAQ:KDP) Target Price at $34.00

Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.1250.

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Sanford C. Bernstein set a $39.00 price objective on Keurig Dr Pepper in a research report on Wednesday, July 8th. Barclays upped their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group upgraded Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a research report on Thursday, June 25th. Finally, UBS Group raised their price target on Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, August 7th.

Keurig Dr Pepper Trading Up 1.3%

Shares of KDP stock opened at $29.56 on Friday. The company has a market capitalization of $40.22 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.30 and a beta of 0.40. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $31.13 and a 200 day moving average price of $29.18. Keurig Dr Pepper has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Research analysts forecast that Keurig Dr Pepper will post 2.3 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio is presently 92.93%.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of institutional investors have recently bought and sold shares of KDP. Salomon & Ludwin LLC purchased a new position in Keurig Dr Pepper during the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. grew its stake in shares of Keurig Dr Pepper by 358.0% during the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 759 shares during the period. Activest Wealth Management grew its stake in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company’s stock valued at $31,000 after buying an additional 1,072 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper during the 4th quarter worth $31,000. Finally, Rossby Financial LCC increased its holdings in shares of Keurig Dr Pepper by 45.1% during the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock worth $31,000 after buying an additional 339 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.