JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Keurig Dr Pepper (NASDAQ:KDP) Stock

Keurig Dr Pepper (NASDAQ:KDP) had its target price boosted by research analysts at JPMorgan Chase & Co. from $33.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 28.03% from the company’s current price.

Several other equities analysts have also weighed in on KDP. Citigroup lifted their price objective on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. UBS Group raised their price target on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, July 16th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Hold” and a consensus price target of $33.40.

Keurig Dr Pepper Trading Up 0.0%

Shares of KDP opened at $29.68 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $40.38 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.40. The stock’s fifty day simple moving average is $30.89 and its 200 day simple moving average is $28.91. Keurig Dr Pepper has a twelve month low of $24.88 and a twelve month high of $35.94.

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

Institutional Trading of Keurig Dr Pepper

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in Keurig Dr Pepper by 30.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock valued at $530,000 after purchasing an additional 3,627 shares in the last quarter. Empowered Funds LLC increased its holdings in Keurig Dr Pepper by 248.0% during the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock worth $2,389,000 after purchasing an additional 49,741 shares during the last quarter. Woodline Partners LP raised its position in shares of Keurig Dr Pepper by 49.2% in the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after purchasing an additional 33,258 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $328,000. Finally, Jump Financial LLC boosted its stake in shares of Keurig Dr Pepper by 253.6% during the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after buying an additional 54,571 shares during the last quarter. 93.99% of the stock is 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.