Coca-Cola Europacific Partners (NASDAQ:CCEP) Cut 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 issued on Wednesday morning, Marketbeat.com reports. They currently have $82.00 price objective on the stock, down from their previous price objective of $85.00.

Other research analysts also recently issued reports about the company. 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 research report on Monday, September 9th. BNP Paribas cut 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. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays boosted their target price on shares of 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. Finally, Evercore ISI raised 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.78.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $77.58 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 company’s 50-day moving average price is $77.52 and its 200 day moving average price is $76.20. Coca-Cola Europacific Partners has a 52 week low of $59.31 and a 52 week high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

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

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Large investors have recently bought and sold shares of the stock. Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Coca-Cola Europacific Partners by 103.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock worth $6,760,000 after buying an additional 47,165 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Coca-Cola Europacific Partners by 234.1% in the 1st quarter. Cetera Advisors LLC now owns 10,325 shares of the company’s stock worth $722,000 after purchasing an additional 7,235 shares during the period. Diversified Trust Co acquired a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at about $2,513,000. Manning & Napier Advisors LLC purchased a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter worth about $3,068,000. Finally, Marshall Wace LLP acquired a new stake in Coca-Cola Europacific Partners during the 2nd quarter worth approximately $1,846,000. 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.