Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $37.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.25% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Wells Fargo & Company reissued an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday. Barclays reiterated an “overweight” rating and set a $36.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday. Morgan Stanley boosted their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Piper Sandler assumed coverage on shares of Keurig Dr Pepper in a research report on Tuesday. They set a “neutral” rating and a $35.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.79.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded down $0.83 during midday trading on Wednesday, reaching $34.12. The company had a trading volume of 2,098,742 shares, compared to its average volume of 9,097,280. The stock has a market cap of $46.28 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.42 and a beta of 0.61. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $31.86 and its 200 day simple moving average is $33.94. Keurig Dr Pepper has a 1 year low of $28.61 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the purchase, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Several institutional investors have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Keurig Dr Pepper by 3.6% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock valued at $320,000 after buying an additional 300 shares during the period. Townsquare Capital LLC grew its stake in shares of Keurig Dr Pepper by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company’s stock valued at $505,000 after buying an additional 327 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Keurig Dr Pepper by 1.2% in the fourth quarter. Perigon Wealth Management LLC now owns 28,545 shares of the company’s stock worth $893,000 after buying an additional 342 shares during the period. Barden Capital Management Inc. increased its holdings in Keurig Dr Pepper by 0.9% during the 4th quarter. Barden Capital Management Inc. now owns 39,836 shares of the company’s stock valued at $1,280,000 after purchasing an additional 353 shares during the period. Finally, Custom Index Systems LLC grew its holdings in shares of Keurig Dr Pepper by 5.3% during the 4th quarter. Custom Index Systems LLC now owns 7,109 shares of the company’s stock worth $228,000 after acquiring an additional 357 shares during the period. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Company Profile

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.