Wells Fargo & Company Lowers Keurig Dr Pepper (NASDAQ:KDP) Price Target to $40.00

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $42.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 30.38% from the company's current price.

KDP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price target for the stock from $37.00 to $39.00 in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price target on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Jefferies Financial Group lowered their price target on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. TD Cowen boosted their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, September 26th. Finally, Citigroup decreased their target price on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average target price of $38.21.

Keurig Dr Pepper Price Performance

Shares of KDP stock traded down $0.40 on Tuesday, reaching $30.68. 8,271,600 shares of the company were exchanged, compared to its average volume of 6,493,875. The company has a market cap of $41.62 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.57 and a beta of 0.62. The business has a 50-day moving average price of $32.61 and a 200 day moving average price of $34.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. Keurig Dr Pepper has a 1 year low of $28.61 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. Equities research analysts forecast that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the sale, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. This trade represents a 24.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Keurig Dr Pepper in the third quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at about $35,000. Hexagon Capital Partners LLC lifted its stake in shares of Keurig Dr Pepper by 105.6% in the third quarter. Hexagon Capital Partners LLC now owns 1,032 shares of the company's stock valued at $39,000 after purchasing an additional 530 shares during the period. Federated Hermes Inc. lifted its stake in shares of Keurig Dr Pepper by 21.8% in the second quarter. Federated Hermes Inc. now owns 1,757 shares of the company's stock valued at $59,000 after purchasing an additional 314 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at about $61,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

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.