Keurig Dr Pepper Inc. (NASDAQ:KDP) Sees Large Decrease in Short Interest
Keurig Dr Pepper Inc. (NASDAQ:KDP – Get Free Report) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 16,160,000 shares, a decline of 20.1% from the October 31st total of 20,230,000 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 8,450,000 shares, the short-interest ratio is currently 1.9 days.
Wall Street Analyst Weigh In
Several research firms have commented on KDP. Barclays upped their price objective on Keurig Dr Pepper from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Jefferies Financial Group began coverage on Keurig Dr Pepper in a research note on Monday, November 13th. They set a “buy” rating and a $39.00 target price for the company. Sanford C. Bernstein cut their target price on Keurig Dr Pepper from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 12th. UBS Group raised Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research note on Tuesday, August 15th. Finally, StockNews.com began coverage on Keurig Dr Pepper in a research note on Thursday, October 5th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.
Insider Activity
In other news, insider Matthew Andrew Archambault sold 16,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $31.07, for a total value of $497,120.00. Following the completion of the sale, the insider now directly owns 800 shares of the company’s stock, valued at approximately $24,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Karin Rotem-Wildeman acquired 7,050 shares of Keurig Dr Pepper stock in a transaction on Friday, October 27th. The stock was purchased at an average cost of $29.95 per share, with a total value of $211,147.50. Following the purchase, the insider now directly owns 69,448 shares in the company, valued at $2,079,967.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Andrew Archambault sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $31.07, for a total value of $497,120.00. Following the sale, the insider now directly owns 800 shares of the company’s stock, valued at $24,856. The disclosure for this sale can be found here. In the last three months, insiders bought 72,050 shares of company stock valued at $2,240,048. Insiders own 0.81% of the company’s stock.
Institutional Investors Weigh In On Keurig Dr Pepper
A number of large investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of Keurig Dr Pepper by 99,740.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 324,915,003 shares of the company’s stock worth $11,586,469,000 after purchasing an additional 324,589,570 shares during the period. Capital World Investors lifted its stake in shares of Keurig Dr Pepper by 97.4% during the 2nd quarter. Capital World Investors now owns 80,618,799 shares of the company’s stock worth $2,520,950,000 after purchasing an additional 39,779,422 shares during the period. Wellington Management Group LLP lifted its stake in shares of Keurig Dr Pepper by 32.1% during the 1st quarter. Wellington Management Group LLP now owns 39,827,389 shares of the company’s stock worth $1,405,110,000 after purchasing an additional 9,685,210 shares during the period. Norges Bank purchased a new position in shares of Keurig Dr Pepper during the 4th quarter worth $276,547,000. Finally, FMR LLC lifted its stake in shares of Keurig Dr Pepper by 12.9% during the 3rd quarter. FMR LLC now owns 60,682,003 shares of the company’s stock worth $1,915,731,000 after purchasing an additional 6,926,582 shares during the period. Institutional investors and hedge funds own 52.29% of the company’s stock.
Keurig Dr Pepper Price Performance
Shares of KDP traded up $0.60 on Friday, reaching $32.17. The stock had a trading volume of 8,212,940 shares, compared to its average volume of 7,435,482. The firm has a market capitalization of $44.98 billion, a PE ratio of 23.31, a PEG ratio of 2.62 and a beta of 0.67. The company has a quick ratio of 0.23, a current ratio of 0.39 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $30.71 and a 200 day moving average of $31.89. Keurig Dr Pepper has a twelve month low of $27.66 and a twelve month high of $38.94.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last announced its earnings results on Thursday, October 26th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Keurig Dr Pepper had a return on equity of 9.76% and a net margin of 13.16%. Keurig Dr Pepper’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Sell-side analysts expect that Keurig Dr Pepper will post 1.78 EPS for the current year.
Keurig Dr Pepper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.20. Keurig Dr Pepper’s dividend payout ratio is 62.32%.
Keurig Dr Pepper Company Profile (Get Free Report)
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.
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Original: MarketBeat News Feed: Keurig Dr Pepper Inc. (NASDAQ:KDP) Sees Large Decrease in Short Interest