Keurig Dr Pepper (NASDAQ:KDP) Sets New 52-Week High - Here's What Happened

Key Points

• Keurig Dr Pepper shares hit a new 52-week high of $36.13 during Friday trading, closing near $35.76.
• Analysts maintain a “Moderate Buy” consensus, with 10 Buy and nine Hold ratings and an average price target of $36.12; HSBC recently upgraded the stock to Buy with a $40 target.
• The company exceeded quarterly earnings and revenue estimates, reporting $0.57 EPS and $7.31 billion in revenue, while revenue rose 75.6% year over year. KDP also pays a quarterly dividend of $0.23 per share, representing a 2.6% yield.

Keurig Dr Pepper, Inc (NASDAQ:KDP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $36.13 and last traded at $35.7620, with a volume of 2,490,052 shares. The stock had previously closed at $35.30.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KDP. BNP Paribas Exane increased their price target on shares of Keurig Dr Pepper from $28.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Piper Sandler reiterated an "overweight" rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 14th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their target price for the company from $37.00 to $40.00 in a report on Thursday, August 13th. TD Cowen raised their price target on Keurig Dr Pepper from $31.00 to $33.00 in a research note on Wednesday, July 8th. Finally, Bank of America lifted their price target on shares of Keurig Dr Pepper from $35.00 to $38.00 in a report on Friday, July 10th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of "Moderate Buy" and a consensus target price of $36.12.

Keurig Dr Pepper Stock Performance

The company has a 50-day simple moving average of $32.36 and a two-hundred day simple moving average of $29.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The firm has a market capitalization of $48.63 billion, a P/E ratio of 35.93, a PEG ratio of 1.66 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%. The business's revenue was up 75.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. As a group, equities analysts forecast that Keurig Dr Pepper, Inc will post 2.30 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, September 28th. Keurig Dr Pepper's payout ratio is 92.93%.

Insider Transactions at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 9,500 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the sale, the vice president owned 55,786 shares of the company's stock, valued at $1,824,202.20. The trade was 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, Director Aaron E. Alt acquired 7,862 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $31.83 per share, for a total transaction of $250,247.46. Following the acquisition, the director owned 7,862 shares of the company's stock, valued at approximately $250,247.46. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.34% of the company's stock.

Institutional Trading of Keurig Dr Pepper

A number of hedge funds have recently made changes to their positions in KDP. Meeder Asset Management Inc. boosted its position in shares of Keurig Dr Pepper by 358.0% during the first quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock valued at $26,000 after buying an additional 759 shares during the last quarter. Community Bank N.A. bought a new stake in Keurig Dr Pepper in the 2nd quarter worth about $29,000. Fortitude Family Office LLC raised its position in Keurig Dr Pepper by 216.2% in the 3rd quarter. Fortitude Family Office LLC now owns 1,565 shares of the company's stock worth $47,000 after buying an additional 1,070 shares during the last quarter. Root Financial Partners LLC purchased a new position in Keurig Dr Pepper in the 3rd quarter worth about $54,000. Finally, Mather Group LLC. lifted its stake in Keurig Dr Pepper by 54.9% during the 3rd quarter. Mather Group LLC. now owns 1,816 shares of the company's stock valued at $55,000 after acquiring an additional 644 shares during the period. 93.99% of the stock is owned by institutional investors.

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.

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