Keurig Dr Pepper (NASDAQ:KDP) Upgraded by Morgan Stanley to Overweight Rating

Keurig Dr Pepper (NASDAQ:KDP) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $40.00 target price on the stock, up from their previous target price of $38.00. Morgan Stanley’s target price would suggest a potential upside of 13.83% from the stock’s previous close.

Other research analysts have also issued reports about the stock. TD Cowen dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler started coverage on Keurig Dr Pepper in a research note on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target for the company. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. increased their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.38.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $35.14 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper has a twelve month low of $30.12 and a twelve month high of $38.28. The company has a fifty day moving average of $32.91 and a 200-day moving average of $33.49. The firm has a market capitalization of $47.68 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.42 and a beta of 0.62.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper will post 1.92 EPS for the current year.

Insider Activity

In related news, Chairman Robert James Gamgort sold 416,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the completion of the sale, the chairman now directly owns 3,237,066 shares in the company, valued at $110,998,993.14. This represents a 11.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Angela A. Stephens sold 7,350 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction of $251,149.50. Following the completion of the sale, the vice president now directly owns 74,587 shares in the company, valued at approximately $2,548,637.79. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,397,350 shares of company stock valued at $2,756,292,570. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Keurig Dr Pepper

Large investors have recently modified their holdings of the business. Townsquare Capital LLC boosted its stake in shares of Keurig Dr Pepper by 38.4% during the 3rd quarter. Townsquare Capital LLC now owns 15,407 shares of the company’s stock valued at $577,000 after purchasing an additional 4,275 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Keurig Dr Pepper by 1.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,593 shares of the company’s stock valued at $1,072,000 after acquiring an additional 524 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Keurig Dr Pepper by 77.8% during the 3rd quarter. Captrust Financial Advisors now owns 54,941 shares of the company’s stock worth $2,059,000 after acquiring an additional 24,034 shares during the period. Erste Asset Management GmbH bought a new position in shares of Keurig Dr Pepper in the 3rd quarter worth approximately $6,066,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of Keurig Dr Pepper by 39.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 16,725 shares of the company’s stock valued at $627,000 after purchasing an additional 4,691 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.