Citigroup Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $37.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price trimmed by Citigroup from $41.00 to $37.00 in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on KDP. Barclays raised their price target on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. UBS Group decreased their target price on Keurig Dr Pepper from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, July 17th. Jefferies Financial Group set a $41.00 price target on Keurig Dr Pepper in a research report on Monday, August 25th. Finally, Hsbc Global Res lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $37.77.

Keurig Dr Pepper Trading Down 0.2%

NASDAQ KDP opened at $27.20 on Tuesday. The business’s fifty day moving average is $31.81 and its 200-day moving average is $33.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.50 and a beta of 0.47. Keurig Dr Pepper has a one year low of $26.58 and a one year high of $38.28.

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

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.23 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.92 annualized dividend and a yield of 3.4%. Keurig Dr Pepper’s dividend payout ratio is currently 82.14%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares in the company, valued at $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert James Gamgort sold 7,601 shares of the company’s 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 completion of the transaction, the director owned 2,284,568 shares of the company’s stock, valued at $82,038,836.88. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 447,601 shares of company stock valued at $14,825,192. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Amundi grew its position in Keurig Dr Pepper by 7.7% during the 1st quarter. Amundi now owns 4,404,145 shares of the company’s stock worth $156,920,000 after acquiring an additional 315,290 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Keurig Dr Pepper by 61.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 60,630 shares of the company’s stock worth $2,075,000 after purchasing an additional 23,167 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Keurig Dr Pepper by 51.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company’s stock worth $1,154,000 after buying an additional 11,435 shares during the period. Praxis Investment Management Inc. raised its holdings in Keurig Dr Pepper by 112.2% during the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company’s stock valued at $672,000 after buying an additional 10,380 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in Keurig Dr Pepper by 85.1% during the 1st quarter. Vident Advisory LLC now owns 26,641 shares of the company’s stock valued at $912,000 after buying an additional 12,250 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

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.