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Keurig Dr Pepper (NASDAQ:KDP) Downgraded to Neutral at The Goldman Sachs Group

Defense World · Sep 28, 2022 03:11

The Goldman Sachs Group lowered shares of Keurig Dr Pepper (NASDAQ:KDP – Get Rating) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $37.00 price target on the stock, down from their prior price target of $39.00.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $44.00 to $42.00 in a report on Wednesday, July 20th. UBS Group boosted their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the stock a neutral rating in a report on Monday, August 1st. Finally, StockNews.com raised Keurig Dr Pepper from a hold rating to a buy rating in a report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $40.33.

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Keurig Dr Pepper Stock Performance

KDP opened at $35.97 on Tuesday. The business has a fifty day simple moving average of $38.60 and a 200 day simple moving average of $36.89. The company has a market capitalization of $50.94 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. Keurig Dr Pepper has a 1 year low of $32.44 and a 1 year high of $41.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.56 and a quick ratio of 0.37.

Keurig Dr Pepper (NASDAQ:KDP – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. Keurig Dr Pepper had a return on equity of 9.15% and a net margin of 16.39%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Research analysts expect that Keurig Dr Pepper will post 1.69 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.20 per share. This is a positive change from Keurig Dr Pepper's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. Keurig Dr Pepper's dividend payout ratio is presently 49.34%.

Insider Activity at Keurig Dr Pepper

In related news, insider Herbert Derek Hopkins sold 37,500 shares of the company's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $35.55, for a total transaction of $1,333,125.00. Following the transaction, the insider now directly owns 174,610 shares of the company's stock, valued at approximately $6,207,385.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Herbert Derek Hopkins sold 37,500 shares of the company's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $35.55, for a total transaction of $1,333,125.00. Following the transaction, the insider now directly owns 174,610 shares of the company's stock, valued at approximately $6,207,385.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Maurice Anthony Milikin purchased 12,979 shares of the company's stock in a transaction that occurred on Tuesday, July 5th. The shares were purchased at an average cost of $35.96 per share, for a total transaction of $466,724.84. Following the completion of the purchase, the insider now owns 25,958 shares in the company, valued at approximately $933,449.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 116,818 shares of company stock worth $4,431,433 and have sold 316,000 shares worth $12,102,475. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Keurig Dr Pepper

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in shares of Keurig Dr Pepper by 105.5% during the second quarter. State Street Corp now owns 31,707,918 shares of the company's stock valued at $1,128,015,000 after acquiring an additional 16,279,787 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $289,804,000. FMR LLC increased its position in shares of Keurig Dr Pepper by 22.2% during the second quarter. FMR LLC now owns 42,626,742 shares of the company's stock valued at $1,508,560,000 after acquiring an additional 7,736,174 shares during the last quarter. BlackRock Inc. increased its position in shares of Keurig Dr Pepper by 20.5% during the fourth quarter. BlackRock Inc. now owns 40,506,588 shares of the company's stock valued at $1,493,073,000 after acquiring an additional 6,898,701 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $196,944,000. 52.29% of the stock is owned by hedge funds and other institutional investors.

About Keurig Dr Pepper

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.