Keurig Dr Pepper Inc. (NASDAQ:KDP) Announces $0.23 Quarterly Dividend

Keurig Dr Pepper Inc. (NASDAQ:KDP) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.23 per share on Friday, April 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.92%.

Keurig Dr Pepper has increased its dividend payment by an average of 7.7% annually over the last three years. Keurig Dr Pepper has a payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Keurig Dr Pepper to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 45.1%.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded up $0.66 during mid-day trading on Tuesday, reaching $31.56. 7,698,666 shares of the company traded hands, compared to its average volume of 8,215,506. The company’s 50 day moving average price is $31.95 and its 200-day moving average price is $34.07. The firm has a market cap of $42.81 billion, a PE ratio of 19.13, a PEG ratio of 2.16 and a beta of 0.61. Keurig Dr Pepper has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays dropped their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen dropped 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 research report on Wednesday, January 8th. Royal Bank of Canada raised their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Piper Sandler started coverage on shares of Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price objective for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the acquisition, the insider now owns 218,063,479 shares in the company, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.