Keurig Dr Pepper (NASDAQ:KDP) Earns Neutral Rating from Analysts at Piper Sandler

Equities research analysts at Piper Sandler initiated coverage on shares of Keurig Dr Pepper (NASDAQ:KDP) in a report released on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $35.00 price target on the stock. Piper Sandler’s price objective points to a potential upside of 12.47% from the stock’s previous close.

A number of other equities analysts have also weighed in on KDP. TD Cowen upped their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price objective for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. Jefferies Financial Group decreased their target price 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. Wells Fargo & Company dropped their price target on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup decreased their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.93.

Keurig Dr Pepper Trading Up 1.4 %

KDP opened at $31.12 on Tuesday. The company has a fifty day moving average price of $32.53 and a two-hundred day moving average price of $34.33. Keurig Dr Pepper has a 1-year low of $28.61 and a 1-year high of $38.28. The company has a market cap of $42.21 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. 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 (NASDAQ:KDP) last issued its earnings results on Thursday, October 24th. The company reported $0.51 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 during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts predict 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 sold 69,000,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This represents a 24.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KDP. FMR LLC raised its position in shares of Keurig Dr Pepper by 9.8% in 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. State Street Corp raised its holdings in Keurig Dr Pepper by 10.9% during the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company’s stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. National Bank of Canada FI lifted its position in shares of Keurig Dr Pepper by 394.3% during the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company’s stock worth $91,908,000 after acquiring an additional 1,956,138 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Keurig Dr Pepper by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company’s stock worth $212,901,000 after acquiring an additional 1,878,597 shares during the period. Finally, Armistice Capital LLC grew its position in shares of Keurig Dr Pepper by 186.3% in the second quarter. Armistice Capital LLC now owns 1,486,063 shares of the company’s stock valued at $49,635,000 after purchasing an additional 966,924 shares in the last quarter. 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.