Keurig Dr Pepper (NASDAQ:KDP) Given New $33.00 Price Target at Bank of America

Key Points

• Keurig Dr Pepper has received a new price target decrease from $41.00 to $33.00 by Bank of America, which maintains a "buy" rating, indicating a potential upside of 29.03% from the current price.
• Other brokerages have also revised their ratings and price targets for Keurig Dr Pepper, with Barclays lowering their target to $26.00 and Goldman Sachs adjusting theirs to $29.00.
• The stock is currently rated as a "hold" on average, with 11 analysts rating it a buy, while institutional investors collectively own 93.99% of the shares.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) had its target price decreased by equities research analysts at Bank of America from $41.00 to $33.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 29.03% from the company's current price.

A number of other brokerages have also issued reports on KDP. Barclays lowered shares of Keurig Dr Pepper from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $39.00 to $26.00 in a research note on Wednesday, September 24th. The Goldman Sachs Group lowered their price target on Keurig Dr Pepper from $34.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, October 2nd. JPMorgan Chase & Co. cut their price target on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Jefferies Financial Group set a $41.00 price objective on Keurig Dr Pepper in a research report on Monday, August 25th. Finally, UBS Group decreased their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, August 27th. Eleven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $35.00.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded up $0.25 during midday trading on Wednesday, reaching $25.58. 6,133,611 shares of the stock were exchanged, compared to its average volume of 13,781,306. The firm has a 50-day simple moving average of $29.84 and a two-hundred day simple moving average of $32.40. Keurig Dr Pepper has a twelve month low of $25.03 and a twelve month high of $37.27. The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.39 and a beta of 0.43. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company's stock, valued at $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert James Gamgort sold 7,601 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the transaction, the director owned 2,284,568 shares in the company, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 435,601 shares of company stock valued at $14,421,512 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Hedge funds have recently modified their holdings of the business. Amundi lifted its position in Keurig Dr Pepper by 7.7% in the first quarter. Amundi now owns 4,404,145 shares of the company's stock worth $156,920,000 after purchasing an additional 315,290 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Keurig Dr Pepper by 61.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 60,630 shares of the company's stock worth $2,075,000 after purchasing an additional 23,167 shares during the period. Truist Financial Corp lifted its position in Keurig Dr Pepper by 15.2% in the second quarter. Truist Financial Corp now owns 302,093 shares of the company's stock worth $9,987,000 after purchasing an additional 39,916 shares during the period. LBP AM SA lifted its holdings in shares of Keurig Dr Pepper by 1,772.6% during the second quarter. LBP AM SA now owns 549,178 shares of the company's stock valued at $18,156,000 after acquiring an additional 519,851 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Keurig Dr Pepper by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 152,411 shares of the company's stock valued at $5,038,000 after acquiring an additional 12,530 shares during the period. 93.99% of the stock is 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.

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