Keurig Dr Pepper (NASDAQ:KDP) Given New $38.00 Price Target at Morgan Stanley

Keurig Dr Pepper (NASDAQ:KDP) had its price objective raised by Morgan Stanley from $36.00 to $38.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $39.00 in a report on Thursday, December 12th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday. Barclays reiterated an “overweight” rating and issued a $36.00 target price on shares of Keurig Dr Pepper in a report on Tuesday. TD Cowen cut their target price on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a report on Tuesday. They issued a “neutral” rating and a $35.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Keurig Dr Pepper Trading Down 3.4 %

Shares of NASDAQ KDP opened at $33.74 on Wednesday. The company’s 50 day simple moving average is $31.88 and its 200 day simple moving average is $33.94. Keurig Dr Pepper has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The firm has a market capitalization of $45.77 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.42 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Keurig Dr Pepper’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, March 28th. Keurig Dr Pepper’s dividend payout ratio is 55.76%.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the transaction, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Several large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. grew its position in Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after purchasing an additional 242,315 shares in the last quarter. Pathstone Holdings LLC grew its position in Keurig Dr Pepper by 0.7% in the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock valued at $122,038,000 after purchasing an additional 22,657 shares in the last quarter. Franklin Resources Inc. grew its position in Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after purchasing an additional 41,466 shares in the last quarter. Swedbank AB grew its position in Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock valued at $23,994,000 after purchasing an additional 13,179 shares in the last quarter. Finally, LMR Partners LLP grew its position in Keurig Dr Pepper by 55.5% in the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock valued at $19,527,000 after purchasing an additional 186,002 shares in the last quarter. 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.