Coca-Cola Europacific Partners (NASDAQ:CCEP) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) from an overweight rating to a neutral rating in a report published on Wednesday, Marketbeat reports. The firm currently has $82.00 price target on the stock, down from their prior price target of $85.00.

Several other research analysts have also commented on the stock. BNP Paribas lowered shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research note on Tuesday, September 10th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Evercore ISI increased their price target on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Coca-Cola Europacific Partners Stock Performance

CCEP stock opened at $77.63 on Wednesday. The business’s fifty day moving average price is $77.67 and its 200 day moving average price is $76.17. Coca-Cola Europacific Partners has a 12-month low of $59.31 and a 12-month high of $82.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a dividend yield of 2.6%.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter worth $165,000. World Investment Advisors LLC purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at about $6,975,000. Sanctuary Advisors LLC increased its position in Coca-Cola Europacific Partners by 5.1% during the third quarter. Sanctuary Advisors LLC now owns 32,190 shares of the company’s stock worth $2,518,000 after purchasing an additional 1,567 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Coca-Cola Europacific Partners by 133.7% during the 3rd quarter. Virtu Financial LLC now owns 15,139 shares of the company’s stock worth $1,192,000 after buying an additional 8,661 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock worth $160,138,000 after purchasing an additional 58,247 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.