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 released on Wednesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $82.00 price target on the stock, down from their prior price target of $85.00.

A number of other research firms have also recently commented on CCEP. Evercore ISI boosted their target price on shares of Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays lifted their target price on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. BNP Paribas downgraded Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Three research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.78.

Coca-Cola Europacific Partners Trading Down 0.1 %

CCEP stock opened at $77.58 on Wednesday. Coca-Cola Europacific Partners has a 1 year low of $59.31 and a 1 year high of $82.32. The stock has a 50-day simple moving average of $77.52 and a 200-day simple moving average of $76.21. 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 firm also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.34 per share. This represents a dividend yield of 2.6%. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in CCEP. New Covenant Trust Company N.A. acquired a new stake in shares of Coca-Cola Europacific Partners in the first quarter valued at $36,000. New Millennium Group LLC acquired a new stake in Coca-Cola Europacific Partners in the 2nd quarter valued at about $37,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock valued at $40,000 after acquiring an additional 139 shares during the last quarter. Mather Group LLC. grew its stake in shares of Coca-Cola Europacific Partners by 142.0% in the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after purchasing an additional 392 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter worth approximately $50,000. 31.35% of the stock is currently owned by institutional investors.

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.