Keurig Dr Pepper (NASDAQ:KDP) Price Target Raised to $38.00 at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $33.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 27.88% from the stock’s previous close.

KDP has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 30th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a report on Wednesday, April 22nd. Citigroup boosted their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Zacks Research downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.40.

Keurig Dr Pepper Stock Down 1.6%

Shares of NASDAQ KDP traded down $0.48 during mid-day trading on Thursday, hitting $29.71. The company had a trading volume of 3,782,702 shares, compared to its average volume of 11,957,993. The company has a market capitalization of $40.43 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40. The business’s 50-day simple moving average is $30.87 and its 200 day simple moving average is $28.89. Keurig Dr Pepper has a 1-year low of $24.88 and a 1-year high of $35.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the previous year, the firm posted $0.42 EPS. Keurig Dr Pepper’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Keurig Dr Pepper will post 2.29 earnings per share for the current year.

Hedge Funds Weigh In On Keurig Dr Pepper

Several hedge funds have recently added to or reduced their stakes in KDP. Auxier Asset Management lifted its stake in Keurig Dr Pepper by 0.4% in the 2nd quarter. Auxier Asset Management now owns 72,163 shares of the company’s stock worth $2,386,000 after acquiring an additional 318 shares in the last quarter. Rossby Financial LCC grew its stake in Keurig Dr Pepper by 45.1% during the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock valued at $31,000 after acquiring an additional 339 shares in the last quarter. Wealth Watch Advisors INC increased its holdings in shares of Keurig Dr Pepper by 18.3% in the 4th quarter. Wealth Watch Advisors INC now owns 2,407 shares of the company’s stock valued at $67,000 after purchasing an additional 373 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Keurig Dr Pepper by 3.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,691 shares of the company’s stock valued at $383,000 after purchasing an additional 405 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its position in shares of Keurig Dr Pepper by 19.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 2,567 shares of the company’s stock worth $72,000 after purchasing an additional 420 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.