Q3 2019 EPS Estimates for Keurig Dr Pepper Inc (NYSE:KDP) Lowered by SunTrust Banks
Keurig Dr Pepper Inc (NYSE:KDP) – Equities researchers at SunTrust Banks decreased their Q3 2019 earnings estimates for Keurig Dr Pepper in a report released on Thursday, August 8th. SunTrust Banks analyst W. Chappell now expects that the company will post earnings per share of $0.31 for the quarter, down from their previous forecast of $0.33. SunTrust Banks also issued estimates for Keurig Dr Pepper’s Q3 2020 earnings at $0.37 EPS and Q4 2020 earnings at $0.43 EPS.
Several other equities analysts have also weighed in on the company. Bank of America increased their target price on Keurig Dr Pepper from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley set a $24.00 target price on Keurig Dr Pepper and gave the company a “sell” rating in a research note on Friday, August 9th. Credit Suisse Group began coverage on Keurig Dr Pepper in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 target price on the stock. Royal Bank of Canada set a $31.00 target price on Keurig Dr Pepper and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $29.24.
Keurig Dr Pepper (NYSE:KDP) last released its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. Keurig Dr Pepper had a return on equity of 7.15% and a net margin of 8.82%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 196.3% on a year-over-year basis.
In other Keurig Dr Pepper news, Director Robert S. Singer purchased 2,000 shares of the stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $28.98 per share, for a total transaction of $57,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings B.V. Maple sold 52,902,300 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.77, for a total value of $1,469,096,871.00. The disclosure for this sale can be found here. Insiders acquired 8,000 shares of company stock valued at $230,700 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Keurig Dr Pepper by 12.9% during the first quarter. FMR LLC now owns 31,147,243 shares of the company’s stock worth $871,188,000 after buying an additional 3,554,304 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Keurig Dr Pepper by 426.3% during the second 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 in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Keurig Dr Pepper by 1,036.5% during the first 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 in the last quarter. Norges Bank bought a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $36,626,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Keurig Dr Pepper by 58.7% during the first 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 in the last quarter. Institutional investors own 14.15% of the company’s stock.
About Keurig Dr Pepper
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.
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