Keurig Dr Pepper (NASDAQ:KDP) Given New $38.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Keurig Dr Pepper from $33 to $38 and kept an overweight rating, implying about 27.9% upside from the current share price.
• Other analysts have also turned more bullish, including Citigroup and Barclays, though the broader Street still shows a Hold consensus with an average price target of $33.40.
• KDP shares were down 1.6% to $29.71 on Thursday, while the company reported last quarter earnings that beat EPS estimates but came in with revenue below expectations.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $33.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 27.88% from the stock's current price.

KDP has been the subject of a number of other research reports. Citigroup raised their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Sanford C. Bernstein set a $39.00 price objective on Keurig Dr Pepper in a report on Wednesday, July 8th. The Goldman Sachs Group raised Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Barclays upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $30.00 to $36.00 in a research report on Thursday, June 25th. Finally, Weiss Ratings raised Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $33.40.

Keurig Dr Pepper Trading Down 1.6%

NASDAQ:KDP traded down $0.48 during trading hours on Thursday, hitting $29.71. The company had a trading volume of 3,782,702 shares, compared to its average volume of 11,957,993. Keurig Dr Pepper has a 1 year low of $24.88 and a 1 year high of $35.94. The company has a market cap of $40.43 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.38 and a beta of 0.40. The company has a 50-day moving average of $30.87 and a 200 day moving average of $28.89. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Keurig Dr Pepper will post 2.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock worth $4,508,456,000 after acquiring an additional 1,538,456 shares in the last quarter. State Street Corp increased its stake in Keurig Dr Pepper by 1.6% during the third quarter. State Street Corp now owns 64,594,706 shares of the company's stock worth $1,662,361,000 after purchasing an additional 986,700 shares during the period. Wellington Management Group LLP lifted its position in shares of Keurig Dr Pepper by 37.0% during the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock worth $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Keurig Dr Pepper by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after purchasing an additional 1,187,457 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Keurig Dr Pepper in the fourth quarter valued at approximately $727,667,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

About Keurig Dr Pepper

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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