Keurig Dr Pepper (NASDAQ:KDP) Raised to “Overweight” at Piper Sandler

Keurig Dr Pepper (NASDAQ:KDP) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a $40.00 price target on the stock, up from their prior price target of $35.00. Piper Sandler’s price objective would indicate a potential upside of 19.15% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Barclays set a $39.00 target price on Keurig Dr Pepper in a report on Thursday, February 27th. UBS Group reiterated a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their target price for the company from $37.00 to $39.00 in a research note on Thursday, December 12th. TD Cowen cut their price target 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. Finally, Morgan Stanley raised shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $40.00 in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

Keurig Dr Pepper Trading Down 0.1 %

Shares of KDP opened at $33.57 on Wednesday. The stock has a market capitalization of $45.55 billion, a PE ratio of 20.35, a P/E/G ratio of 2.42 and a beta of 0.54. The company’s fifty day moving average is $33.17 and its 200 day moving average is $33.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper has a fifty-two week low of $30.12 and a fifty-two week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the transaction, the insider now directly owns 134,113,479 shares of the company’s stock, valued at $4,378,805,089.35. This represents a 38.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the completion of the sale, the insider now directly owns 166,511 shares of the company’s stock, valued at approximately $5,791,252.58. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,409,350 shares of company stock worth $2,756,709,930. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Keurig Dr Pepper by 8.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after buying an additional 242,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Keurig Dr Pepper by 53.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock valued at $10,400,000 after purchasing an additional 112,819 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Keurig Dr Pepper by 7.1% in the third quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after purchasing an additional 41,466 shares during the period. Swedbank AB raised its stake in shares of Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after purchasing an additional 13,179 shares during the last quarter. Finally, RWC Asset Management LLP raised its stake in shares of Keurig Dr Pepper by 34.6% in the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock worth $49,885,000 after purchasing an additional 398,916 shares during the last quarter. Institutional investors and hedge funds 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.