Keurig Dr Pepper (NASDAQ:KDP) Price Target Lowered to $40.00 at Wells Fargo & Company

Keurig Dr Pepper (NASDAQ:KDP) had its price target lowered by equities research analysts at Wells Fargo & Company from $42.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 28.53% from the company’s current price.

A number of other brokerages also recently weighed in on KDP. Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a report on Tuesday. They issued a “neutral” rating and a $35.00 price target on the stock. TD Cowen boosted their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Jefferies Financial Group decreased their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Barclays dropped their price objective on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Citigroup decreased their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Keurig Dr Pepper Stock Up 1.4 %

Keurig Dr Pepper stock opened at $31.12 on Tuesday. Keurig Dr Pepper has a fifty-two week low of $28.61 and a fifty-two week high of $38.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The firm’s 50-day simple moving average is $32.53 and its 200 day simple moving average is $34.33. The stock has a market cap of $42.21 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. Keurig Dr Pepper’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Research analysts predict that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling at Keurig Dr Pepper

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KDP. Swedbank AB lifted its position in Keurig Dr Pepper by 57.7% during the third quarter. Swedbank AB now owns 733,823 shares of the company’s stock valued at $27,504,000 after purchasing an additional 268,555 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Keurig Dr Pepper by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock worth $122,038,000 after acquiring an additional 22,657 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Keurig Dr Pepper by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after acquiring an additional 41,466 shares during the last quarter. LMR Partners LLP grew its position in Keurig Dr Pepper by 55.5% in the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after acquiring an additional 186,002 shares in the last quarter. Finally, Curi RMB Capital LLC increased its stake in Keurig Dr Pepper by 9.4% in the third quarter. Curi RMB Capital LLC now owns 628,042 shares of the company’s stock valued at $23,539,000 after acquiring an additional 54,167 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

About Keurig Dr Pepper

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.