Keurig Dr Pepper (NASDAQ:KDP) Hits New 1-Year High – Here’s Why

Keurig Dr Pepper, Inc (NASDAQ:KDP)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $37.90 and last traded at $37.8080, with a volume of 2,475,185 shares. The stock had previously closed at $37.59.

Analysts Set New Price Targets

A number of brokerages have weighed in on KDP. Piper Sandler reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 14th. Evercore increased their price target on Keurig Dr Pepper from $30.00 to $32.00 in a research report on Thursday, October 8th. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price target for the stock from $37.00 to $40.00 in a research report on Thursday, August 13th. Morgan Stanley raised their price target on Keurig Dr Pepper from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, TD Cowen lifted their price objective on Keurig Dr Pepper from $33.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, November 4th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.29.

Keurig Dr Pepper Price Performance

The firm has a 50-day simple moving average of $33.08 and a 200-day simple moving average of $30.30. The firm has a market cap of $51.77 billion, a P/E ratio of 34.89, a PEG ratio of 1.76 and a beta of 0.35. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.73.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.33 billion. Keurig Dr Pepper had a return on equity of 11.27% and a net margin of 7.12%. The business’s revenue for the quarter was up 70.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, analysts forecast that Keurig Dr Pepper, Inc will post 2.31 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 28th. Keurig Dr Pepper’s dividend payout ratio is presently 84.40%.

Insider Activity

In related news, VP Angela A. Stephens sold 9,500 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the completion of the sale, the vice president owned 55,786 shares of the company’s stock, valued at $1,824,202.20. This represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total transaction of $390,600.00. Following the completion of the sale, the insider owned 84,171 shares of the company’s stock, valued at approximately $2,739,766.05. This trade represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

A number of institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new stake in Keurig Dr Pepper in the third quarter valued at about $191,000. Private Wealth Asset Management LLC purchased a new stake in shares of Keurig Dr Pepper during the third quarter worth about $168,000. Private Advisor Group LLC grew its stake in shares of Keurig Dr Pepper by 71.7% during the third quarter. Private Advisor Group LLC now owns 28,395 shares of the company’s stock worth $862,000 after acquiring an additional 11,862 shares during the last quarter. Boston Partners increased its holdings in shares of Keurig Dr Pepper by 182.9% during the third quarter. Boston Partners now owns 8,340,288 shares of the company’s stock valued at $253,079,000 after acquiring an additional 5,391,668 shares in the last quarter. Finally, Composition Wealth LLC purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at approximately $246,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc. (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods. The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.