Morgan Stanley Boosts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $38.00

Keurig Dr Pepper (NASDAQ:KDP) had its price target raised by investment analysts at Morgan Stanley from $36.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 11.01% from the stock’s current price.

Several other research analysts also recently commented on KDP. Piper Sandler started coverage on Keurig Dr Pepper in a report on Tuesday. They set a “neutral” rating and a $35.00 target price on the stock. Barclays reaffirmed an “overweight” rating and set a $36.00 target price on shares of Keurig Dr Pepper in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Keurig Dr Pepper in a report on Tuesday. TD Cowen cut their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $39.00 in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.79.

Keurig Dr Pepper Price Performance

Shares of KDP traded down $0.71 during trading hours on Wednesday, reaching $34.23. The stock had a trading volume of 1,547,680 shares, compared to its average volume of 9,082,836. Keurig Dr Pepper has a 12 month low of $28.61 and a 12 month high of $38.28. The stock has a market capitalization of $46.43 billion, a PE ratio of 20.75, a PEG ratio of 2.42 and a beta of 0.61. 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’s 50-day moving average is $31.86 and its two-hundred day moving average is $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Research analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Insider Activity at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the transaction, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Keurig Dr Pepper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC bought a new stake in Keurig Dr Pepper in the 4th quarter valued at about $297,000. Aurdan Capital Management LLC acquired a new position in Keurig Dr Pepper during the 4th quarter valued at about $2,593,000. Mackenzie Financial Corp boosted its stake in Keurig Dr Pepper by 12.3% during the 4th quarter. Mackenzie Financial Corp now owns 378,935 shares of the company’s stock valued at $12,171,000 after purchasing an additional 41,560 shares during the last quarter. Forum Financial Management LP boosted its stake in Keurig Dr Pepper by 69.3% during the 4th quarter. Forum Financial Management LP now owns 23,409 shares of the company’s stock valued at $752,000 after purchasing an additional 9,580 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Keurig Dr Pepper during the 4th quarter valued at about $252,000. 93.99% of the stock is owned by 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.