Keurig Dr Pepper (NASDAQ:KDP) Given New $36.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its price target for Keurig Dr Pepper from $39.00 to $36.00, while maintaining an "overweight" rating, suggesting a potential upside of 29.73% from the stock's previous close.
• Other firms, including Citigroup and Deutsche Bank, have also cut their price targets for the stock, reflecting a trend of cautious sentiment among analysts.
• Keurig Dr Pepper's stock traded lower, reaching $27.75, with analysts forecasting an EPS of 1.92 for the current year.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) had its price objective lowered by analysts at JPMorgan Chase & Co. from $39.00 to $36.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 29.73% from the stock's previous close.

A number of other research firms have also weighed in on KDP. Citigroup decreased their target price on shares of Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. HSBC reissued a "hold" rating and issued a $30.00 price target (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. TD Cowen decreased their price target on shares of Keurig Dr Pepper from $36.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, October 1st. Finally, Cowen reissued a "hold" rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $34.87.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock traded down $0.28 during midday trading on Monday, reaching $27.75. 11,025,372 shares of the stock were exchanged, compared to its average volume of 14,048,240. The company's fifty day moving average is $28.74 and its 200-day moving average is $31.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The firm has a market cap of $37.70 billion, a PE ratio of 24.78, a PEG ratio of 1.55 and a beta of 0.43. Keurig Dr Pepper has a 52 week low of $25.03 and a 52 week high of $37.27.

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

Insider Activity

In other news, Director Robert James Gamgort sold 7,601 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the sale, the director owned 2,284,568 shares of the company's stock, valued at approximately $82,038,836.88. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 423,601 shares of company stock valued at $14,017,592. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

A number of institutional investors have recently made changes to their positions in KDP. Vanguard Group Inc. boosted its position in Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock valued at $4,962,338,000 after buying an additional 25,425,644 shares during the period. JPMorgan Chase & Co. boosted its position in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock valued at $1,330,565,000 after buying an additional 20,196,835 shares during the period. Norges Bank purchased a new stake in Keurig Dr Pepper during the 2nd quarter valued at $568,525,000. Invesco Ltd. boosted its position in Keurig Dr Pepper by 43.2% during the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company's stock valued at $1,040,320,000 after buying an additional 9,494,503 shares during the period. Finally, State Street Corp boosted its position in Keurig Dr Pepper by 11.2% during the 2nd quarter. State Street Corp now owns 63,608,006 shares of the company's stock valued at $2,117,279,000 after buying an additional 6,412,494 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

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.

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