TD Cowen Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $36.00

Keurig Dr Pepper (NASDAQ:KDP) had its target price dropped by TD Cowen from $39.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 15.68% from the company’s previous close.

A number of other brokerages have also recently issued reports on KDP. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Citigroup lowered their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their target price on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.

Keurig Dr Pepper Stock Up 1.4 %

Shares of KDP stock opened at $31.12 on Wednesday. The firm’s fifty day moving average price is $32.49 and its two-hundred day moving average price is $34.31. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper has a 1 year low of $28.61 and a 1 year high of $38.28. The firm has a market capitalization of $42.21 billion, a P/E ratio of 18.86, a PEG 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 analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insider Activity at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now directly owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Keurig Dr Pepper

Hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Keurig Dr Pepper during the 3rd quarter worth approximately $25,000. LRI Investments LLC bought a new stake in Keurig Dr Pepper during the third quarter worth $35,000. Hexagon Capital Partners LLC boosted its holdings in shares of Keurig Dr Pepper by 105.6% in the 3rd 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. Brooklyn Investment Group bought a new position in shares of Keurig Dr Pepper in the 3rd quarter valued at $61,000. Finally, Federated Hermes Inc. raised its holdings 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 in the last quarter. 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.