BNP Paribas Downgrades Coca-Cola Europacific Partners (NASDAQ:CCEP) to Neutral

Coca-Cola Europacific Partners (NASDAQ:CCEP) was downgraded by analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $81.00 target price on the stock. BNP Paribas’ price target would indicate a potential upside of 1.86% from the stock’s previous close.

Several other analysts have also recently weighed in on CCEP. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com cut shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a research report on Sunday, May 19th. Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Bank of America raised their price objective on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.78.

Coca-Cola Europacific Partners Trading Down 0.2 %

Coca-Cola Europacific Partners stock opened at $79.52 on Tuesday. The firm’s fifty day moving average price is $75.93 and its 200-day moving average price is $73.19. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners has a fifty-two week low of $56.28 and a fifty-two week high of $82.14.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of hedge funds have recently modified their holdings of the company. FIL Ltd boosted its stake in shares of Coca-Cola Europacific Partners by 9.6% during the 4th quarter. FIL Ltd now owns 3,629,675 shares of the company’s stock valued at $242,245,000 after purchasing an additional 317,936 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Coca-Cola Europacific Partners by 89.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after purchasing an additional 1,017,278 shares in the last quarter. Samlyn Capital LLC boosted its stake in shares of Coca-Cola Europacific Partners by 23.2% during the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after purchasing an additional 349,466 shares in the last quarter. Fiduciary Management Inc. WI boosted its stake in shares of Coca-Cola Europacific Partners by 25.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,785,320 shares of the company’s stock valued at $119,152,000 after purchasing an additional 365,820 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Coca-Cola Europacific Partners by 7.6% during the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after purchasing an additional 115,604 shares in the last quarter. Hedge funds and other institutional investors 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.