Keurig Dr Pepper (NASDAQ:KDP) Raised to “Overweight” at Piper Sandler

Keurig Dr Pepper (NASDAQ:KDP) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $40.00 target price on the stock, up from their prior target price of $35.00. Piper Sandler’s price target would indicate a potential upside of 15.11% from the stock’s current price.

Several other research firms also recently issued reports on KDP. Morgan Stanley raised Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. Barclays set a $39.00 price objective on Keurig Dr Pepper in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.77.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $34.75 on Wednesday. Keurig Dr Pepper has a fifty-two week low of $30.12 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 company has a market cap of $47.15 billion, a PE ratio of 21.06, a P/E/G ratio of 2.42 and a beta of 0.54. The business has a 50-day simple moving average of $33.31 and a two-hundred day simple moving average of $33.34.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, February 25th. The company reported $0.58 EPS 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 company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $0.55 EPS. Keurig Dr Pepper’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insider Activity

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares of the company’s stock, valued at $2,548,637.79. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $34.78, for a total transaction of $417,360.00. Following the completion of the sale, the insider now owns 166,511 shares in the company, valued at approximately $5,791,252.58. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,409,350 shares of company stock worth $2,756,709,930 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in shares of Keurig Dr Pepper by 17.4% in the third quarter. Quantinno Capital Management LP now owns 57,589 shares of the company’s stock valued at $2,158,000 after acquiring an additional 8,539 shares in the last quarter. Stifel Financial Corp lifted its holdings in Keurig Dr Pepper by 79.6% in the 3rd quarter. Stifel Financial Corp now owns 358,664 shares of the company’s stock valued at $13,443,000 after purchasing an additional 158,961 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Keurig Dr Pepper in the 3rd quarter valued at $460,000. XTX Topco Ltd acquired a new stake in Keurig Dr Pepper during the 3rd quarter worth $562,000. Finally, MML Investors Services LLC grew its holdings in shares of Keurig Dr Pepper by 31.0% during the third quarter. MML Investors Services LLC now owns 45,439 shares of the company’s stock worth $1,703,000 after buying an additional 10,760 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

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.