TD Cowen Cuts Keurig Dr Pepper (NASDAQ:KDP) Price Target to $28.00

Key Points

• TD Cowen has reduced the price target for Keurig Dr Pepper from $36.00 to $28.00, maintaining a "hold" rating on the stock, which suggests a potential upside of 8.43% from its previous close.
• Several other brokerages have also downgraded Keurig Dr Pepper, with Hsbc Global Res shifting from a "strong buy" to a "hold" and BNP Paribas reducing its rating from "neutral" to "underperform."
• Keurig Dr Pepper reported a 6.1% year-over-year increase in quarterly revenue, reaching $4.16 billion, and its earnings per share matched analysts' expectations at $0.49.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) had its price objective decreased by equities researchers at TD Cowen from $36.00 to $28.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm presently has a "hold" rating on the stock. TD Cowen's price target would suggest a potential upside of 8.43% from the stock's previous close.

Several other brokerages have also commented on KDP. Hsbc Global Res lowered Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. BNP Paribas Exane lowered Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a research report on Monday, September 22nd. BNP Paribas lowered Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a research report on Monday, September 22nd. UBS Group lowered their price target on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 27th. Finally, Cowen reiterated a "hold" rating on shares of Keurig Dr Pepper in a report on Wednesday. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.62.

Keurig Dr Pepper Stock Performance

NASDAQ KDP traded up $0.31 during trading on Wednesday, hitting $25.82. 3,106,081 shares of the company's stock traded hands, compared to its average volume of 13,715,721. The stock has a market capitalization of $35.08 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.41 and a beta of 0.47. Keurig Dr Pepper has a 12-month low of $25.34 and a 12-month high of $37.27. 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 business has a 50 day moving average of $30.63 and a 200-day moving average of $32.68.

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 for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm posted $0.45 earnings per share. Keurig Dr Pepper's quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insider Transactions at Keurig Dr Pepper

In other news, Director Robert James Gamgort sold 7,601 shares of the firm's stock in a transaction dated 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 directly owned 2,284,568 shares in the company, valued at $82,038,836.88. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper 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 transaction, the insider owned 82,511 shares of the company's stock, valued at approximately $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,601 shares of company stock valued at $14,421,512. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Keurig Dr Pepper

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in shares of Keurig Dr Pepper in the first quarter worth approximately $25,000. ST Germain D J Co. Inc. acquired a new stake in shares of Keurig Dr Pepper in the first quarter worth approximately $27,000. NewSquare Capital LLC boosted its stake in shares of Keurig Dr Pepper by 94.1% in the second quarter. NewSquare Capital LLC now owns 796 shares of the company's stock worth $26,000 after acquiring an additional 386 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter worth approximately $26,000. Finally, AlphaCore Capital LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter worth approximately $26,000. 93.99% of the stock is currently owned by hedge funds and other 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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