TD Cowen Raises Keurig Dr Pepper (NASDAQ:KDP) Price Target to $40.00

Keurig Dr Pepper (NASDAQ:KDP) had its price objective boosted by TD Cowen from $35.00 to $40.00 in a research note published on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Barclays reduced their target price on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an overweight rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the company a hold rating in a report on Monday, September 23rd. UBS Group upped their target price on shares of Keurig Dr Pepper from $39.00 to $40.00 and gave the company a buy rating in a report on Monday, June 10th. Citigroup upgraded shares of Keurig Dr Pepper from a neutral rating to a buy rating and boosted their price target for the stock from $36.00 to $43.00 in a research note on Monday, September 23rd. Finally, BNP Paribas assumed coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They set a neutral rating and a $36.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of Moderate Buy and a consensus target price of $37.53.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $37.42 on Thursday. Keurig Dr Pepper has a 12-month low of $27.66 and a 12-month high of $38.28. The stock has a market cap of $50.74 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 2.86 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 company has a fifty day simple moving average of $35.84 and a 200-day simple moving average of $33.77.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. Keurig Dr Pepper’s dividend payout ratio is currently 55.48%.

Hedge Funds Weigh In On Keurig Dr Pepper

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Keurig Dr Pepper by 312.1% during the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after buying an additional 643 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Keurig Dr Pepper by 617.1% in the 2nd 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 holdings in Keurig Dr Pepper by 51.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Keurig Dr Pepper in the second quarter valued at $35,000. Finally, Riverview Trust Co acquired a new stake in Keurig Dr Pepper during the second quarter worth about $39,000. Hedge funds and other institutional investors 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.