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

JPMorgan Chase & Co. cut shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $82.00 price objective on the stock, down from their prior price objective of $85.00.

Several other research analysts also recently weighed in on CCEP. BNP Paribas downgraded shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price target for the company. in a research report on Tuesday, September 10th. Barclays raised their target price on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective 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 upped 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 report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Coca-Cola Europacific Partners Trading Down 0.4 %

Shares of NASDAQ CCEP opened at $77.63 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. The firm has a fifty day moving average of $77.67 and a 200 day moving average of $76.17. Coca-Cola Europacific Partners has a one year low of $59.31 and a one year high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The company also recently announced 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 of this dividend is Friday, November 15th. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. This represents a yield of 2.6%.

Institutional Trading of Coca-Cola Europacific Partners

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in Coca-Cola Europacific Partners by 38.1% in the third 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. New Millennium Group LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth $37,000. New Covenant Trust Company N.A. acquired a new stake in shares of Coca-Cola Europacific Partners during the 1st quarter worth about $36,000. Plato Investment Management Ltd purchased a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at about $50,000. Finally, Mather Group LLC. raised its holdings in Coca-Cola Europacific Partners by 142.0% in the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock valued at $47,000 after buying an additional 392 shares during the period. 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.