Sanford C. Bernstein Upgrades Keurig Dr Pepper (NASDAQ:KDP) to Strong-Buy

Keurig Dr Pepper (NASDAQ:KDP) was upgraded by stock analysts at Sanford C. Bernstein to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Barclays upped their target price on shares of Keurig Dr Pepper from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Wells Fargo & Company decreased their target price on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings upgraded shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research cut shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.00.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $31.71 on Thursday. Keurig Dr Pepper has a 52 week low of $24.88 and a 52 week high of $35.94. 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 stock has a market cap of $43.14 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. The company has a 50-day moving average price of $28.52 and a two-hundred day moving average price of $28.25.

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

Institutional Investors Weigh In On Keurig Dr Pepper

Several hedge funds have recently made changes to their positions in KDP. NewEdge Advisors LLC lifted its position in shares of Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock valued at $530,000 after acquiring an additional 3,627 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Keurig Dr Pepper by 248.0% in the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock valued at $2,389,000 after acquiring an additional 49,741 shares in the last quarter. Woodline Partners LP lifted 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 acquiring an additional 33,258 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $328,000. Finally, Jump Financial LLC lifted its position in shares of Keurig Dr Pepper by 253.6% in the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after acquiring an additional 54,571 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

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.