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

kopsource · Sep 30, 2022 04:31

The Goldman Sachs Group cut shares of Keurig Dr Pepper (NASDAQ:KDP – Get Rating) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $37.00 target price on the stock, down from their previous target price of $39.00.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. dropped their price target on Keurig Dr Pepper from $44.00 to $42.00 in a research report on Wednesday, July 20th. UBS Group lifted their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, August 1st. Finally, StockNews.com upgraded Keurig Dr Pepper from a hold rating to a buy rating in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of Moderate Buy and a consensus target price of $40.33.

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Keurig Dr Pepper Trading Down 1.2 %

Shares of Keurig Dr Pepper stock opened at $36.12 on Tuesday. The firm has a market cap of $51.15 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.05 and a beta of 0.61. The business has a 50-day moving average price of $38.51 and a 200-day moving average price of $36.88. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.46. Keurig Dr Pepper has a twelve month low of $32.44 and a twelve month high of $41.31.

Keurig Dr Pepper (NASDAQ:KDP – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. Keurig Dr Pepper had a return on equity of 9.15% and a net margin of 16.39%. The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Keurig Dr Pepper will post 1.69 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 annualized dividend and a yield of 2.21%. This is an increase from Keurig Dr Pepper's previous quarterly dividend of $0.19. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 49.34%.

Insiders Place Their Bets

In other news, Director Robert S. Singer sold 3,500 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $38.60, for a total transaction of $135,100.00. Following the completion of the sale, the director now owns 27,001 shares of the company's stock, valued at $1,042,238.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert S. Singer sold 3,500 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $38.60, for a total transaction of $135,100.00. Following the completion of the sale, the director now owns 27,001 shares of the company's stock, valued at $1,042,238.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maurice Anthony Milikin acquired 12,979 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, July 5th. The stock was acquired at an average cost of $35.96 per share, with a total value of $466,724.84. Following the purchase, the insider now directly owns 25,958 shares of the company's stock, valued at $933,449.68. The disclosure for this purchase can be found here. Insiders bought a total of 116,818 shares of company stock valued at $4,431,433 over the last 90 days. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of large investors have recently bought and sold shares of KDP. Commerce Bank grew its holdings in Keurig Dr Pepper by 2.9% in the first quarter. Commerce Bank now owns 18,957 shares of the company's stock worth $718,000 after purchasing an additional 530 shares during the last quarter. Cerity Partners LLC grew its holdings in Keurig Dr Pepper by 57.3% in the first quarter. Cerity Partners LLC now owns 9,613 shares of the company's stock worth $364,000 after purchasing an additional 3,502 shares during the last quarter. Signaturefd LLC grew its holdings in Keurig Dr Pepper by 25.2% in the first quarter. Signaturefd LLC now owns 8,324 shares of the company's stock worth $315,000 after purchasing an additional 1,678 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Keurig Dr Pepper by 39.1% in the first quarter. Quadrant Capital Group LLC now owns 5,225 shares of the company's stock worth $198,000 after purchasing an additional 1,468 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in Keurig Dr Pepper in the first quarter worth $386,000. Institutional investors own 52.29% of the company's stock.

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.