Shares of Keurig Dr Pepper Inc (NYSE:KDP) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $31.97 and last traded at $30.83, with a volume of 26958 shares changing hands. The stock had previously closed at $28.17.
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The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Keurig Dr Pepper had a net margin of 8.82% and a return on equity of 7.15%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the firm earned $0.30 EPS. Keurig Dr Pepper’s quarterly revenue was up 5.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, October 3rd. Keurig Dr Pepper’s payout ratio is 57.69%.
Several research firms recently weighed in on KDP. Bank of America lifted their price objective on shares of Keurig Dr Pepper from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Guggenheim reissued a “hold” rating on shares of Keurig Dr Pepper in a research note on Friday, September 27th. ValuEngine raised shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. SunTrust Banks set a $35.00 price objective on shares of Keurig Dr Pepper and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley set a $24.00 price objective on shares of Keurig Dr Pepper and gave the stock a “sell” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Keurig Dr Pepper currently has an average rating of “Buy” and an average price target of $30.41.
In related news, Director Robert S. Singer purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $28.65 per share, with a total value of $85,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Andrew Loucks purchased 18,554 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $28.31 per share, for a total transaction of $525,263.74. The disclosure for this purchase can be found here. Insiders have purchased a total of 105,727 shares of company stock worth $2,609,271 in the last three months. 0.44% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in KDP. Amundi Pioneer Asset Management Inc. lifted its stake in Keurig Dr Pepper by 124.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,049 shares of the company’s stock valued at $1,567,000 after buying an additional 31,025 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Keurig Dr Pepper by 50.8% in the second quarter. Xact Kapitalforvaltning AB now owns 23,307 shares of the company’s stock valued at $674,000 after purchasing an additional 7,852 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 9.2% in the second quarter. Nisa Investment Advisors LLC now owns 59,265 shares of the company’s stock valued at $1,713,000 after purchasing an additional 5,000 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 187.3% in the second quarter. Foster Victor Wealth Advisors LLC now owns 31,223 shares of the company’s stock valued at $934,000 after purchasing an additional 20,355 shares during the last quarter. Finally, CWM Advisors LLC raised its holdings in shares of Keurig Dr Pepper by 7.0% in the second quarter. CWM Advisors LLC now owns 31,612 shares of the company’s stock valued at $914,000 after purchasing an additional 2,076 shares during the last quarter. 19.54% of the stock is currently owned by hedge funds and other institutional investors.
The company has a quick ratio of 0.23, a current ratio of 0.33 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $39.43 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.51 and a beta of 0.45. The stock’s fifty day moving average price is $27.60 and its 200-day moving average price is $28.22.
About Keurig Dr Pepper (NYSE:KDP)
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
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