Keurig Dr Pepper (NASDAQ:KDP – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at Argus in a research report issued on Tuesday, Benzinga reports. They presently have a $36.00 price objective on the stock. Argus’ price objective indicates a potential upside of 15.57% from the stock’s previous close.
Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Citigroup lifted their price objective on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Morgan Stanley began coverage on Keurig Dr Pepper in a research report on Thursday, August 20th. They set an “overweight” rating and a $38.00 target price for the company. Finally, Wells Fargo & Company set a $37.00 price target on shares of Keurig Dr Pepper in a research report on Wednesday, July 1st. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.
Check Out Our Latest Analysis on KDP
Keurig Dr Pepper Price Performance
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. Equities research analysts forecast that Keurig Dr Pepper will post 2.3 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Aaron Alt purchased 7,862 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $31.83 per share, for a total transaction of $250,247.46. Following the completion of the transaction, the director directly owned 7,862 shares in the company, valued at $250,247.46. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total transaction of $390,600.00. Following the transaction, the insider directly owned 84,171 shares of the company’s stock, valued at $2,739,766.05. The trade was a 12.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Keurig Dr Pepper
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Keurig Dr Pepper in the 2nd quarter worth about $4,697,645,000. California State Teachers Retirement System boosted its position in shares of Keurig Dr Pepper by 2,997.3% during the second quarter. California State Teachers Retirement System now owns 68,048,910 shares of the company’s stock valued at $2,079,099,000 after buying an additional 65,851,849 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $727,667,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Keurig Dr Pepper during the second quarter valued at approximately $767,105,000. Finally, Norges Bank bought a new position in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $568,361,000. 93.99% of the stock is owned by hedge funds and other institutional investors.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that operates across the refreshment beverage and coffee categories. The company develops, manufactures, distributes and markets a broad portfolio of soft drinks, flavored beverages, juices, water and mixers, as well as single-serve coffee products and brewing systems.
Its beverage portfolio includes brands such as Dr Pepper, Canada Dry, 7UP, A&W, Snapple, Mott’s, Bai and CORE Hydration. In coffee, Keurig Dr Pepper offers Keurig brewing systems, pods and related products under brands including Green Mountain Coffee Roasters and The Original Donut Shop.
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