Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $38.00 at Morgan Stanley

Keurig Dr Pepper (NASDAQ:KDP) had its target price increased by analysts at Morgan Stanley from $36.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 13.11% from the stock’s previous close.

KDP has been the topic of several other research reports. Wells Fargo & Company reiterated an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday. TD Cowen lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on Keurig Dr Pepper in a research report on Tuesday. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.23.

Keurig Dr Pepper Stock Performance

KDP opened at $33.60 on Wednesday. Keurig Dr Pepper has a 52-week low of $28.61 and a 52-week high of $38.28. The firm has a market capitalization of $45.57 billion, a PE ratio of 20.36, a PEG ratio of 2.42 and a beta of 0.61. 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 business’s 50-day simple moving average is $31.91 and its 200 day simple moving average is $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Keurig Dr Pepper’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the completion of the transaction, the insider now directly owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This represents a 1.69 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. grew its position in Keurig Dr Pepper by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock worth $100,796,000 after buying an additional 242,315 shares in the last quarter. Pathstone Holdings LLC grew its position in Keurig Dr Pepper by 0.7% during the third quarter. Pathstone Holdings LLC now owns 3,256,000 shares of the company’s stock worth $122,038,000 after buying an additional 22,657 shares in the last quarter. Franklin Resources Inc. grew its position in Keurig Dr Pepper by 7.1% during the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock worth $22,806,000 after buying an additional 41,466 shares in the last quarter. Swedbank AB grew its position in Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after buying an additional 13,179 shares in the last quarter. Finally, LMR Partners LLP grew its position in Keurig Dr Pepper by 55.5% during the third quarter. LMR Partners LLP now owns 521,000 shares of the company’s stock worth $19,527,000 after buying an additional 186,002 shares in the last quarter. Institutional investors and hedge funds 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.