Keurig Dr Pepper (NASDAQ:KDP) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Keurig Dr Pepper (NASDAQ:KDP) had its price target increased by research analysts at JPMorgan Chase & Co. from $38.00 to $39.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 11.66% from the stock’s previous close.

KDP has been the subject of a number of other research reports. Morgan Stanley began coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They set an “overweight” rating and a $38.00 price target for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a research report on Wednesday, July 1st. Citigroup upped their target price on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays raised their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.07.

Keurig Dr Pepper Price Performance

KDP stock traded up $0.46 during midday trading on Thursday, reaching $34.93. The company had a trading volume of 1,391,901 shares, compared to its average volume of 11,779,395. The company has a market capitalization of $47.53 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.40. The stock has a 50 day moving average price of $31.90 and a 200-day moving average price of $30.53. Keurig Dr Pepper has a 1-year low of $24.88 and a 1-year high of $34.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. Keurig Dr Pepper’s revenue was up 75.6% compared to the same quarter last year. Equities research analysts expect that Keurig Dr Pepper will post 2.30 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Aaron Alt bought 7,862 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $31.83 per share, with a total value of $250,247.46. Following the completion of the purchase, the director owned 7,862 shares in the company, valued at $250,247.46. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total transaction of $390,600.00. Following the transaction, the insider owned 84,171 shares of the company’s stock, valued at $2,739,766.05. This trade represents a 12.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Keurig Dr Pepper

Several large investors have recently bought and sold shares of the company. Community Bank N.A. bought a new stake in shares of Keurig Dr Pepper during the second quarter worth about $29,000. Meeder Asset Management Inc. raised its holdings in Keurig Dr Pepper by 358.0% in the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 759 shares during the last quarter. Fortitude Family Office LLC boosted its position in Keurig Dr Pepper by 216.2% during the 3rd quarter. Fortitude Family Office LLC now owns 1,565 shares of the company’s stock worth $47,000 after buying an additional 1,070 shares during the period. Root Financial Partners LLC acquired a new stake in Keurig Dr Pepper during the 3rd quarter worth approximately $54,000. Finally, Mather Group LLC. grew its holdings in Keurig Dr Pepper by 54.9% during the 3rd quarter. Mather Group LLC. now owns 1,816 shares of the company’s stock worth $55,000 after acquiring an additional 644 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

About Keurig Dr Pepper

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.