JPMorgan Chase & Co. Initiates Coverage on Keurig Dr Pepper (KDP)
JPMorgan Chase & Co. began coverage on shares of Keurig Dr Pepper (NYSE:KDP) in a research note released on Friday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $30.00 price target on the stock.
A number of other analysts have also recently commented on KDP. Susquehanna Bancshares initiated coverage on Keurig Dr Pepper in a research report on Wednesday, July 25th. They set a positive rating and a $33.00 target price on the stock. ValuEngine cut Keurig Dr Pepper from a sell rating to a strong sell rating in a research report on Thursday, August 2nd. Citigroup lifted their target price on Keurig Dr Pepper from $15.46 to $26.00 and gave the stock a neutral rating in a research report on Friday, August 10th. Jefferies Financial Group cut their target price on Keurig Dr Pepper from $25.00 to $22.00 and set a hold rating on the stock in a research report on Monday, August 20th. Finally, Guggenheim initiated coverage on Keurig Dr Pepper in a research report on Thursday, September 13th. They set a neutral rating and a $22.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $26.55.
KDP opened at $27.44 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.28 and a current ratio of 0.40. Keurig Dr Pepper has a one year low of $20.46 and a one year high of $126.65. The stock has a market cap of $38.49 billion, a PE ratio of 10.19, a PEG ratio of 1.59 and a beta of 0.47.
In related news, insider Herbert Derek Hopkins purchased 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were purchased at an average price of $22.94 per share, for a total transaction of $504,680.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Singer purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was bought at an average price of $23.17 per share, for a total transaction of $231,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 145,252 shares of company stock worth $3,483,758 in the last 90 days. 0.58% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at about $188,000. WBI Investments Inc. acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at about $5,763,000. Public Employees Retirement System of Ohio acquired a new position in Keurig Dr Pepper in the 2nd quarter valued at about $8,695,000. Oakbrook Investments LLC acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at about $262,000. Finally, Essex Investment Management Co. LLC acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at about $444,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.
About Keurig Dr Pepper
Keurig Dr Pepper Inc engages in the brewing system and specialty coffee businesses in the United States and Canada. The company sources, produces, and sells coffee, hot cocoa, teas, and other beverages in K-Cup, Vue, Rivo, K-Carafe, and K-Mug pods brands; coffee in traditional packaging, including bags and fractional packs; and other specialty beverages in pods.
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