Piper Sandler Lowers Keurig Dr Pepper (NASDAQ:KDP) Price Target to $35.00

Key Points

• Piper Sandler has lowered the price target for Keurig Dr Pepper from $40.00 to $35.00, indicating a potential upside of 28.23% from its previous close.
• The company has an average rating of "Moderate Buy" with a consensus target price of $37.77 based on 11 buy ratings and 3 hold ratings from analysts.
• Keurig Dr Pepper's stock recently traded at $27.30, with a twelve-month range of $26.58 to $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Free Report) had its price objective reduced by Piper Sandler from $40.00 to $35.00 in a report published on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. UBS Group lowered their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, August 27th. Citigroup lowered their target price on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday. Hsbc Global Res cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, HSBC restated a "hold" rating and set a $30.00 target price (down previously from $42.00) on shares of Keurig Dr Pepper in a research note on Tuesday, August 26th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.77.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock traded down $0.06 on Wednesday, hitting $27.20. 12,359,804 shares of the company's stock were exchanged, compared to its average volume of 25,237,798. The company has a 50-day simple moving average of $31.81 and a 200-day simple moving average of $33.08. The stock has a market capitalization of $36.95 billion, a PE ratio of 24.29, a PEG ratio of 1.50 and a beta of 0.47. Keurig Dr Pepper has a 1 year low of $26.58 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. As a group, equities analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

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

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 7,601 shares of Keurig Dr Pepper stock in a transaction on Wednesday, August 20th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction 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. This trade represents 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 459,601 shares of company stock worth $15,228,872. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Keurig Dr Pepper

A number of large investors have recently made changes to their positions in KDP. Rise Advisors LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $25,000. Chung Wu Investment Group LLC bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth about $26,000. NewSquare Capital LLC increased its holdings in shares of Keurig Dr Pepper by 94.1% in the 2nd quarter. NewSquare Capital LLC now owns 796 shares of the company's stock worth $26,000 after buying an additional 386 shares during the last quarter. AlphaCore Capital LLC bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth about $26,000. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $27,000. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Company Profile

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.