Keurig Dr Pepper (NASDAQ:KDP) Coverage Initiated by Analysts at Piper Sandler

Stock analysts at Piper Sandler initiated coverage on shares of Keurig Dr Pepper (NASDAQ:KDP) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “neutral” rating and a $35.00 price target on the stock. Piper Sandler’s price objective would suggest a potential upside of 12.61% from the company’s previous close.

A number of other brokerages also recently issued reports on KDP. Barclays decreased their price target on Keurig Dr Pepper from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Jefferies Financial Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price target for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Citigroup decreased their target price on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.36.

Keurig Dr Pepper Stock Performance

Shares of Keurig Dr Pepper stock opened at $31.08 on Tuesday. The firm has a market capitalization of $42.16 billion, a P/E ratio of 18.84, a PEG ratio of 2.57 and a beta of 0.62. Keurig Dr Pepper has a 52 week low of $28.61 and a 52 week high of $38.28. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $32.61 and a 200 day moving average price of $34.38.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of institutional investors have recently modified their holdings of KDP. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth about $35,000. Hexagon Capital Partners LLC boosted its holdings in Keurig Dr Pepper by 105.6% in the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company’s stock valued at $39,000 after purchasing an additional 530 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Keurig Dr Pepper by 21.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock worth $59,000 after buying an additional 314 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at $61,000. 93.99% of the stock is owned by institutional investors and hedge funds.

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.