JP Morgan Raises Keurig Dr Pepper (KDP) Price Target to $39

By TradeTexts Research Desk Oct 22, 2026, 11:15 AM EDT

Key Points

JP Morgan reiterated an Overweight rating on Keurig Dr Pepper Inc. on October 22, 2026, and raised its price target from $38.00 to $39.00.
JP Morgan's $39 price target implies 11.73% upside from Keurig Dr Pepper Inc.'s ($KDP) current $34.91 share price.
Keurig Dr Pepper recently traded around $34.91, down about 1.2% from its October 22, 2026, closing price of $35.34.
The beverage maker reports trailing twelve-month revenue of $20.09 billion alongside a P/E ratio of 35.70.

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JP Morgan reiterated its Overweight rating on Keurig Dr Pepper Inc. (KDP) on October 22, 2026, while pushing its price target higher from $38.00 to $39.00. The note reflects the firm's forward-looking perspective on the beverage maker as shares trade near their 52-week highs heading into the company's next earnings report.

KDP Keurig Dr Pepper Inc.

$35.28 +30.18% year to date

Daily close · Oct 22, 2026

JP Morgan's Call on Keurig Dr Pepper

On October 22, 2026, JP Morgan maintained its Overweight rating on Keurig Dr Pepper and boosted its price target to $39.00 from $38.00. Several other Wall Street firms weighed in on the stock in recent weeks. Barclays kept an Overweight rating on August 10, 2026, lifting its target to $38.00 from $36.00. HSBC upgraded the stock to Buy on August 13, 2026, setting a $40.00 target. Argus Research reiterated a Buy rating with a $36.00 target on September 15, 2026. Consensus data shows a general buy recommendation among 17 analysts, with a mean price target of $36.38.

Other Institutional Activity in Keurig Dr Pepper

Large institutional funds have also adjusted their holdings in the beverage company. Harris Associates L.P. trimmed its holdings by 223,386 shares, ending the period with 92,854,297 shares valued at about $3.28 billion.

Keurig Dr Pepper Inc. Stock Up 1.3%

Keurig Dr Pepper recently traded around $34.91 as of October 22, 2026, sitting down about 1.2% from its event-day closing price of $35.34. The stock trades above both its 50-day moving average of $31.84 and its 200-day moving average of $29.74. Shares sit roughly 1.4% below their 52-week high of $35.40 and about 40.3% above their 52-week low of $24.88. The company has a market capitalization of $48.09 billion, a P/E ratio of 35.70, and a forward P/E of 13.98.

12-month forecast

$KDP price target

Keurig Dr Pepper Inc. daily closes and this analyst's $39 target. Not advice.

Recent Earnings

Keurig Dr Pepper reported trailing twelve-month revenue of $20.10 billion and earnings of $0.99 per share. The company posted a net profit margin of 7.1% and a return on equity of 5.1%. Investors look ahead to the next earnings release scheduled for November 3, 2026.

Dividend

Keurig Dr Pepper pays an annual dividend rate of $0.92 per share, giving investors a dividend yield of 2.67%. The company maintains a dividend payout ratio of 92.9%.

Insider Buying and Selling at Keurig Dr Pepper Inc.

Company insiders executed several transactions ahead of the analyst update. Director Aaron E. Alt bought 7,862 shares on August 25, 2026, at an average price of $31.83 for a total value of $250,247. Officer Angela A Stephens sold 9,500 shares on September 3, 2026, at $32.70 totaling $310,650. Officer Mary Beth Denooyer sold 24,000 shares on September 9, 2026, worth $778,200.

About Keurig Dr Pepper

Headquartered in Frisco, Texas, Keurig Dr Pepper operates as a beverage and single-serve brewing system company. It manufactures and distributes hot and cold beverages across the United States and international markets through its U.S. Refreshment Beverages, U.S. Coffee, and International segments.

Bottom Line

JP Morgan's increased price target highlights continued confidence in the beverage maker's growth path. Investors will look to the upcoming earnings report on November 3, 2026, for further updates on segment performance and operational execution.