JPMorgan Chase & Co. Downgrades Coca-Cola Europacific Partners (NASDAQ:CCEP) to Neutral

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

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

Coca-Cola Europacific Partners Stock Down 0.1 %

Coca-Cola Europacific Partners stock opened at $77.58 on Wednesday. Coca-Cola Europacific Partners has a one year low of $59.31 and a one year high of $82.32. The stock’s 50 day moving average price is $77.52 and its 200 day moving average price is $76.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63.

Coca-Cola Europacific Partners Increases Dividend

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

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola Europacific Partners by 13.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,442 shares of the company’s stock valued at $2,829,000 after purchasing an additional 4,741 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Coca-Cola Europacific Partners in the 1st quarter worth approximately $8,663,000. California State Teachers Retirement System boosted its stake in Coca-Cola Europacific Partners by 13.5% in the first quarter. California State Teachers Retirement System now owns 221,119 shares of the company’s stock worth $15,467,000 after purchasing an additional 26,217 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in Coca-Cola Europacific Partners by 4.5% during the 1st quarter. iA Global Asset Management Inc. now owns 42,921 shares of the company’s stock worth $3,002,000 after acquiring an additional 1,839 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

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.