Keurig Dr Pepper Inc. (NASDAQ:KDP) Announces Quarterly Dividend of $0.23

Keurig Dr Pepper Inc. (NASDAQ:KDP) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors of record on Friday, June 27th will be given a dividend of 0.23 per share on Friday, July 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, June 27th.

Keurig Dr Pepper has increased its dividend payment by an average of 7.7% per year over the last three years and has increased its dividend every year for the last 4 years. Keurig Dr Pepper has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Keurig Dr Pepper to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 45.3%.

Keurig Dr Pepper Price Performance

KDP opened at $33.01 on Friday. The stock has a market cap of $44.83 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.42 and a beta of 0.52. Keurig Dr Pepper has a 1 year low of $30.12 and a 1 year high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $34.24 and a 200 day moving average price of $33.03.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Analysts forecast that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KDP shares. Morgan Stanley upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. UBS Group lifted their price objective on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Barclays lifted their price objective on Keurig Dr Pepper from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $42.00 in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Insider Activity at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the completion of the transaction, the insider now directly owns 134,113,479 shares of the company’s stock, valued at approximately $4,378,805,089.35. This represents a 38.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Angela A. Stephens sold 14,500 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total transaction of $496,480.00. Following the completion of the transaction, the vice president now directly owns 62,411 shares of the company’s stock, valued at approximately $2,136,952.64. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,863,850 shares of company stock worth $2,772,203,450 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KDP. NewEdge Advisors LLC boosted its stake in shares of Keurig Dr Pepper by 30.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock worth $530,000 after buying an additional 3,627 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Keurig Dr Pepper by 248.0% during the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock worth $2,389,000 after buying an additional 49,741 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Keurig Dr Pepper by 49.2% during the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock worth $3,452,000 after buying an additional 33,258 shares during the last quarter. 93.99% of the stock is 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.