Coca-Cola Europacific Partners’ (CCEP) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a $92.00 target price on the stock.

A number of other brokerages have also commented on CCEP. Barclays upped their price objective on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Wells Fargo & Company boosted their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Finally, UBS Group cut shares of Coca-Cola Europacific Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $109.00 to $107.00 in a research note on Thursday, August 13th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.44.

Coca-Cola Europacific Partners Stock Performance

Coca-Cola Europacific Partners stock opened at $105.76 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $113.67. The stock’s 50 day moving average is $106.97 and its 200-day moving average is $100.49.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Coca-Cola Europacific Partners by 8,692.1% in the 2nd quarter. California State Teachers Retirement System now owns 17,141,791 shares of the company’s stock valued at $1,715,379,000 after buying an additional 16,946,824 shares in the last quarter. Boston Partners lifted its holdings in shares of Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after acquiring an additional 156,613 shares during the period. State Street Corp boosted its position in shares of Coca-Cola Europacific Partners by 0.7% during the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company’s stock worth $430,360,000 after acquiring an additional 31,054 shares in the last quarter. Norges Bank acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $363,294,000. Finally, FIL Ltd boosted its position in shares of Coca-Cola Europacific Partners by 0.3% during the 4th quarter. FIL Ltd now owns 3,793,166 shares of the company’s stock worth $344,312,000 after acquiring an additional 10,801 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.