The Goldman Sachs Group Lowers Keurig Dr Pepper (NASDAQ:KDP) Price Target to $29.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price lowered by The Goldman Sachs Group from $34.00 to $29.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on the company. TD Cowen reduced their target price on Keurig Dr Pepper from $36.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday. Jefferies Financial Group set a $41.00 target price on Keurig Dr Pepper in a research note on Monday, August 25th. Hsbc Global Res lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, July 17th. Finally, Cowen restated a “hold” rating on shares of Keurig Dr Pepper in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.14.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $25.74 on Thursday. Keurig Dr Pepper has a 12 month low of $25.27 and a 12 month high of $37.27. The stock has a fifty day moving average price of $30.31 and a 200-day moving average price of $32.58. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The firm has a market cap of $34.97 billion, a PE ratio of 22.98, a P/E/G ratio of 1.41 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 26th. Keurig Dr Pepper’s payout ratio is presently 82.14%.

Insider Activity

In related news, Director Robert James Gamgort sold 7,601 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director directly owned 2,284,568 shares in the company, valued at approximately $82,038,836.88. The trade was a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider owned 82,511 shares in the company, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,601 shares of company stock worth $14,421,512. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KDP. Vanguard Group Inc. boosted its holdings in shares of Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. Norges Bank acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $568,525,000. Invesco Ltd. boosted its holdings in shares of Keurig Dr Pepper by 43.2% during the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Keurig Dr Pepper by 11.2% during the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after purchasing an additional 6,412,494 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

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.