TD Cowen Has Lowered Expectations for Keurig Dr Pepper (NASDAQ:KDP) Stock Price

Keurig Dr Pepper (NASDAQ:KDP) had its price target dropped by research analysts at TD Cowen from $39.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 15.68% from the company’s previous close.

Several other equities analysts have also recently commented on KDP. Jefferies Financial Group reduced their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 25th. Citigroup reduced their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their price target on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler assumed coverage on Keurig Dr Pepper in a research note on Tuesday. They issued a “neutral” rating and a $35.00 target price for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Keurig Dr Pepper Trading Up 1.4 %

Keurig Dr Pepper stock opened at $31.12 on Wednesday. Keurig Dr Pepper has a one year low of $28.61 and a one year high of $38.28. The company’s fifty day moving average price is $32.49 and its two-hundred day moving average price is $34.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. 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.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast 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 69,000,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the transaction, the insider now owns 214,443,879 shares of the company’s stock, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Keurig Dr Pepper

Several large investors have recently modified their holdings of KDP. CX Institutional raised its holdings in shares of Keurig Dr Pepper by 3.6% during the third quarter. CX Institutional now owns 8,129 shares of the company’s stock worth $305,000 after acquiring an additional 283 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Keurig Dr Pepper by 3.6% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock valued at $320,000 after purchasing an additional 300 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after purchasing an additional 314 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Keurig Dr Pepper by 5.2% in the fourth quarter. First Hawaiian Bank now owns 7,789 shares of the company’s stock valued at $250,000 after purchasing an additional 384 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Keurig Dr Pepper by 2.9% during the third quarter. TD Private Client Wealth LLC now owns 14,198 shares of the company’s stock worth $532,000 after buying an additional 400 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.