Keurig Dr Pepper (NASDAQ:KDP) Given New $40.00 Price Target at JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price objective increased by JPMorgan Chase & Co. from $37.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.25% from the stock’s previous close.

Several other brokerages have also weighed in on KDP. TD Cowen dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company restated an “overweight” rating on shares of Keurig Dr Pepper in a report on Tuesday. Morgan Stanley upped their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday. Finally, Piper Sandler initiated coverage on Keurig Dr Pepper in a report on Tuesday. They issued a “neutral” rating and a $35.00 target price for the company. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.79.

Keurig Dr Pepper Trading Down 2.4 %

Shares of KDP stock traded down $0.83 during mid-day trading on Wednesday, reaching $34.12. 2,098,742 shares of the stock traded hands, compared to its average volume of 9,097,280. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year 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 market cap of $46.28 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. The stock’s fifty day simple moving average is $31.86 and its two-hundred day simple moving average is $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.01 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab acquired 3,619,600 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the acquisition, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. The trade was a 1.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after buying an additional 22,856,757 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Keurig Dr Pepper by 36.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares during the last quarter. FMR LLC raised its position in Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock valued at $3,829,824,000 after purchasing an additional 9,105,164 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company’s stock valued at $681,579,000 after purchasing an additional 8,363,192 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Keurig Dr Pepper in the 4th quarter worth approximately $197,819,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

About Keurig Dr Pepper

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.