Coca-Cola Europacific Partners (NASDAQ:CCEP) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) from a buy rating to a hold rating in a report published on Sunday.

A number of other equities analysts have also commented on CCEP. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Argus raised their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a buy rating in a research report on Monday, February 26th. Finally, Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $84.00 and gave the company an overweight rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of Moderate Buy and a consensus price target of $76.44.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $73.25 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. Coca-Cola Europacific Partners has a 1 year low of $56.28 and a 1 year high of $75.43. The firm has a 50-day simple moving average of $70.87 and a two-hundred day simple moving average of $67.57.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last announced its quarterly earnings data on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. As a group, research analysts anticipate that Coca-Cola Europacific Partners will post 4.15 EPS for the current fiscal year.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Friday, May 10th will be issued a $0.79 dividend. This represents a yield of 5.6%. The ex-dividend date of this dividend is Thursday, May 9th.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter worth $68,360,000. Point72 Asset Management L.P. lifted its stake in shares of Coca-Cola Europacific Partners by 89.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock worth $143,895,000 after buying an additional 1,017,278 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Coca-Cola Europacific Partners during the first quarter valued at $47,839,000. Public Sector Pension Investment Board lifted its position in Coca-Cola Europacific Partners by 800.5% during the fourth quarter. Public Sector Pension Investment Board now owns 663,146 shares of the company’s stock valued at $44,258,000 after purchasing an additional 589,500 shares during the period. Finally, First Trust Advisors LP lifted its position in Coca-Cola Europacific Partners by 1,735.9% during the fourth quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock valued at $30,462,000 after purchasing an additional 431,564 shares during the period. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Company Profile

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.