SunTrust Banks Begins Coverage on Keurig Dr Pepper (KDP)
SunTrust Banks began coverage on shares of Keurig Dr Pepper (NYSE:KDP) in a research report report published on Friday, Marketbeat reports. The firm issued a buy rating and a $35.00 target price on the stock.
A number of other brokerages also recently commented on KDP. Citigroup raised their price objective on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock a hold rating in a research report on Tuesday, November 13th. Gabelli downgraded Keurig Dr Pepper from a buy rating to a hold rating and set a $28.48 price objective for the company. in a research report on Thursday, November 8th. Zacks Investment Research downgraded Keurig Dr Pepper from a buy rating to a hold rating in a research report on Friday, November 16th. JPMorgan Chase & Co. assumed coverage on Keurig Dr Pepper in a research report on Friday, November 16th. They issued a neutral rating and a $30.00 price objective for the company. Finally, Macquarie upgraded Keurig Dr Pepper from a neutral rating to an outperform rating and raised their price objective for the stock from $24.00 to $30.00 in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Keurig Dr Pepper has an average rating of Hold and a consensus price target of $27.86.
NYSE:KDP traded up $0.32 during mid-day trading on Friday, hitting $26.30. 4,298,110 shares of the company’s stock traded hands, compared to its average volume of 3,147,410. Keurig Dr Pepper has a 12 month low of $20.46 and a 12 month high of $126.65. The company has a market cap of $36.54 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.46 and a beta of 0.47. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 0.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Friday, January 4th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.28%. Keurig Dr Pepper’s dividend payout ratio is currently 13.22%.
In related news, insider Brian Andrew Loucks bought 1,600 shares of the company’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average cost of $25.85 per share, with a total value of $41,360.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert S. Singer bought 8,500 shares of the company’s stock in a transaction dated Thursday, December 6th. The stock was bought at an average cost of $25.98 per share, with a total value of $220,830.00. The disclosure for this purchase can be found here. Insiders acquired a total of 94,968 shares of company stock valued at $2,411,672 in the last quarter. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of KDP. FMR LLC acquired a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $459,135,000. Vanguard Group Inc. acquired a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $388,634,000. BlackRock Inc. acquired a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $173,646,000. JPMorgan Chase & Co. acquired a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $135,460,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $114,109,000. 10.92% of the stock is owned by institutional investors and hedge funds.
About Keurig Dr Pepper
Keurig Dr Pepper Inc engages in the brewing system and specialty coffee businesses in the United States and Canada. The company sources, produces, and sells coffee, hot cocoa, teas, and other beverages in K-Cup, Vue, Rivo, K-Carafe, and K-Mug pods brands; coffee in traditional packaging, including bags and fractional packs; and other specialty beverages in pods.
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