Keurig Dr Pepper (NYSE:KDP) has been given a $31.00 price objective by equities researchers at Royal Bank of Canada in a report released on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 8.79% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Morgan Stanley set a $24.00 price target on shares of Keurig Dr Pepper and gave the stock a “sell” rating in a research report on Friday. Credit Suisse Group started coverage on shares of Keurig Dr Pepper in a research report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price target on the stock. BMO Capital Markets upgraded shares of Keurig Dr Pepper from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $34.00 in a research report on Monday, June 17th. Bank of America boosted their price target on shares of Keurig Dr Pepper from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. Finally, ValuEngine upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.24.
Shares of NYSE KDP traded down $0.59 during trading on Friday, hitting $28.50. The company had a trading volume of 1,885,653 shares, compared to its average volume of 2,733,809. The firm’s fifty day simple moving average is $28.77. Keurig Dr Pepper has a fifty-two week low of $22.19 and a fifty-two week high of $31.06. The firm has a market capitalization of $40.84 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.46. The company has a quick ratio of 0.23, a current ratio of 0.33 and a debt-to-equity ratio of 0.58.
In related news, Director Robert S. Singer purchased 2,000 shares of Keurig Dr Pepper stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $28.98 per share, with a total value of $57,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert S. Singer purchased 3,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of $28.93 per share, for a total transaction of $86,790.00. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Keurig Dr Pepper by 12.9% in the 1st quarter. FMR LLC now owns 31,147,243 shares of the company’s stock valued at $871,188,000 after acquiring an additional 3,554,304 shares during the period. JPMorgan Chase & Co. increased its stake in Keurig Dr Pepper by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,141,313 shares of the company’s stock worth $171,773,000 after buying an additional 87,790 shares during the period. Victory Capital Management Inc. increased its stake in Keurig Dr Pepper by 58.7% during the 1st quarter. Victory Capital Management Inc. now owns 3,640,711 shares of the company’s stock worth $101,831,000 after buying an additional 1,346,792 shares during the period. Prudential Financial Inc. increased its stake in Keurig Dr Pepper by 426.3% during the 2nd quarter. Prudential Financial Inc. now owns 3,429,881 shares of the company’s stock worth $99,124,000 after buying an additional 2,778,138 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Keurig Dr Pepper by 1,036.5% during the 1st quarter. Wells Fargo & Company MN now owns 2,019,618 shares of the company’s stock worth $56,488,000 after buying an additional 1,841,915 shares during the period. 14.26% of the stock is currently owned by institutional investors and hedge funds.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
Recommended Story: Hedge Funds – How They Work For Investors
Receive News & Ratings for Keurig Dr Pepper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keurig Dr Pepper and related companies with MarketBeat.com's FREE daily email newsletter.