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Keurig Dr Pepper (NASDAQ:KDP) Downgraded by The Goldman Sachs Group

Financial News Live · Sep 30, 2022 04:32

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

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

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Keurig Dr Pepper Trading Down 1.2 %

KDP opened at $36.12 on Tuesday. The business has a 50 day simple moving average of $38.51 and a two-hundred day simple moving average of $36.88. The firm has a market capitalization 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 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 has a one year low of $32.44 and a one year high of $41.31.

Keurig Dr Pepper (NASDAQ:KDP – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.39 EPS for the quarter, meeting analysts' consensus estimates of $0.39. The business 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%. Keurig Dr Pepper's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. Analysts predict that Keurig Dr Pepper will post 1.69 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors 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 dividend 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 is presently 49.34%.

Insider Buying and Selling

In related news, Director Robert S. Singer sold 3,500 shares of the company's stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $38.60, for a total value of $135,100.00. Following the sale, the director now owns 27,001 shares in the company, valued at approximately $1,042,238.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Keurig Dr Pepper news, insider Maurice Anthony Milikin bought 12,979 shares of the business's stock in a transaction on Monday, July 11th. The shares were acquired at an average cost of $36.17 per share, for a total transaction of $469,450.43. Following the purchase, the insider now owns 38,937 shares in the company, valued at approximately $1,408,351.29. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert S. Singer sold 3,500 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $38.60, for a total value of $135,100.00. Following the sale, the director now owns 27,001 shares in the company, valued at $1,042,238.60. The disclosure for this sale can be found here. Insiders have purchased 116,818 shares of company stock worth $4,431,433 in the last 90 days. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds and other institutional investors have recently modified their holdings of the company. Coston McIsaac & Partners bought a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at $31,000. Federated Hermes Inc. bought a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at $210,000. Private Trust Co. NA bought a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at $26,000. Amundi raised its holdings in Keurig Dr Pepper by 43.3% in the 2nd quarter. Amundi now owns 2,653,128 shares of the company's stock worth $96,547,000 after purchasing an additional 801,200 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in Keurig Dr Pepper by 15.5% in the 2nd quarter. Raleigh Capital Management Inc. now owns 5,143 shares of the company's stock worth $182,000 after purchasing an additional 692 shares during the period. 52.29% of the stock is owned by institutional investors.

Keurig Dr Pepper Company Profile

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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.