Piper Sandler Begins Coverage on Keurig Dr Pepper (NASDAQ:KDP)

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

Several other research analysts have also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company lowered their price objective on Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group cut their target price on 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. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $31.12 on Tuesday. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.57 and a beta of 0.62. The stock’s 50 day moving average is $32.53 and its 200-day moving average is $34.33. 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 has a 12 month low of $28.61 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. Equities research analysts expect that Keurig Dr Pepper will post 1.92 EPS for the current year.

Insider Buying and Selling at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the completion of the sale, the insider now owns 214,443,879 shares of the company’s stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Keurig Dr Pepper by 9.8% in the 3rd 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 last quarter. State Street Corp boosted its position in Keurig Dr Pepper by 10.9% during the third 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 last quarter. National Bank of Canada FI grew its holdings in Keurig Dr Pepper by 394.3% during the 3rd 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Keurig Dr Pepper by 41.8% in the 2nd 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 in the last quarter. Finally, Armistice Capital LLC lifted its stake in shares of Keurig Dr Pepper by 186.3% in the 2nd 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 during the period. 93.99% of the stock is currently owned by institutional investors.

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.