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

Keurig Dr Pepper (NASDAQ:KDP) had its target price raised by Morgan Stanley from $36.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 11.01% from the company’s previous close.

KDP has been the topic of a number of other research reports. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research report on Tuesday. Barclays reissued an “overweight” rating and set a $36.00 price target on shares of Keurig Dr Pepper in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. TD Cowen lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.79.

Keurig Dr Pepper Stock Down 2.0 %

KDP traded down $0.71 on Wednesday, hitting $34.23. 1,547,680 shares of the company were exchanged, 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 company has a market cap 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 stock’s fifty day moving average is $31.86 and its 200-day moving average is $33.94.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly 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. 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 revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities research analysts predict that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $120,677,464.00. Following the completion of the purchase, the insider now directly owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company’s stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares during the last quarter. FMR LLC lifted its stake in Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company’s stock worth $3,829,824,000 after purchasing an additional 9,105,164 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Keurig Dr Pepper by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company’s stock valued at $1,946,561,000 after acquiring an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company’s stock valued at $1,755,564,000 after acquiring an additional 14,473,054 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Keurig Dr Pepper by 10.9% in 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 last quarter. 93.99% of the stock is currently 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.