Citigroup Trims Keurig Dr Pepper (NASDAQ:KDP) Target Price to $40.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price reduced by Citigroup from $43.00 to $40.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Barclays increased their price objective on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. TD Cowen upped their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $38.50.

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $34.58 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51. The stock has a 50 day moving average price of $36.73 and a 200 day moving average price of $34.67. The stock has a market cap of $46.88 billion, a PE ratio of 22.31, a P/E/G ratio of 2.73 and a beta of 0.62. Keurig Dr Pepper has a one year low of $28.61 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. Keurig Dr Pepper’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities research analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.66%. Keurig Dr Pepper’s dividend payout ratio is currently 59.35%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its holdings in Keurig Dr Pepper by 17.0% in the third quarter. First Trust Direct Indexing L.P. now owns 43,006 shares of the company’s stock valued at $1,612,000 after acquiring an additional 6,253 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Keurig Dr Pepper by 111.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,201 shares of the company’s stock worth $648,000 after buying an additional 9,051 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Keurig Dr Pepper by 19.0% during the third quarter. Nisa Investment Advisors LLC now owns 106,485 shares of the company’s stock worth $4,016,000 after buying an additional 16,997 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Keurig Dr Pepper by 3.6% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock valued at $320,000 after buying an additional 300 shares in the last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of Keurig Dr Pepper during the 3rd quarter valued at approximately $253,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.