Keurig Dr Pepper (NASDAQ:KDP) Lowered to Equal Weight Rating by Barclays

Key Points

• Keurig Dr Pepper was downgraded by Barclays from an "overweight" to an "equal weight" rating, with a new price target of $26.00, reflecting a significant decrease from their previous target of $39.00.
• Multiple brokerages have also adjusted their ratings and target prices for Keurig Dr Pepper, indicating a consensus rating of "Moderate Buy" among analysts.
• In the last three months, corporate insiders have sold a total of 447,601 shares of Keurig Dr Pepper, indicating potential concerns about the company’s stock performance.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) was downgraded by research analysts at Barclays from an "overweight" rating to an "equal weight" rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $26.00 price objective on the stock, down from their prior price objective of $39.00. Barclays's price objective would suggest a potential downside of 1.89% from the stock's current price.

Several other brokerages also recently commented on KDP. BNP Paribas Exane downgraded shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a research note on Monday. Hsbc Global Res cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. dropped their price target on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Piper Sandler lowered their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Finally, UBS Group reduced their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 27th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper has a consensus rating of "Moderate Buy" and an average target price of $36.77.

Keurig Dr Pepper Price Performance

KDP stock opened at $26.50 on Wednesday. The firm has a 50 day moving average of $31.41 and a 200-day moving average of $32.94. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper has a 12 month low of $25.92 and a 12 month high of $38.28. The firm has a market capitalization of $36.00 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.42 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period in the previous year, the business posted $0.45 earnings per share. Keurig Dr Pepper's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares of the company's stock, valued at approximately $75,412,360.10. This represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the transaction, the insider directly owned 82,511 shares in the company, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 447,601 shares of company stock worth $14,825,192 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Keurig Dr Pepper

Several large investors have recently bought and sold shares of KDP. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 9.8% in the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company's stock valued at $5,265,055,000 after acquiring an additional 14,244,768 shares during the last quarter. State Street Corp grew its stake 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 worth $2,117,279,000 after buying an additional 6,412,494 shares during the last quarter. JPMorgan Chase & Co. lifted 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 worth $1,330,565,000 after acquiring an additional 20,196,835 shares during the period. Invesco Ltd. lifted 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 worth $1,040,320,000 after acquiring an additional 9,494,503 shares during the period. Finally, Geode Capital Management LLC lifted its position in Keurig Dr Pepper by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company's stock worth $994,275,000 after acquiring an additional 3,595,579 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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