Coca-Cola Europacific Partners (NASDAQ:CCEP) Given Underweight Rating at JPMorgan Chase & Co.

Coca-Cola Europacific Partners (NASDAQ:CCEP)‘s stock had its “underweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued on Friday, Benzinga reports. They currently have a $92.00 target price on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 15.71% from the company’s previous close.

A number of other research analysts have also recently issued reports on CCEP. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $106.00 target price on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Wells Fargo & Company raised their target price on 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. Finally, Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.44.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $109.15 on Friday. The firm’s 50-day moving average price is $106.89 and its 200-day moving average price is $100.45. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $113.67. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. grew its position in Coca-Cola Europacific Partners by 3.2% during the first quarter. Fulton Bank N.A. now owns 3,699 shares of the company’s stock worth $335,000 after buying an additional 113 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Coca-Cola Europacific Partners by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company’s stock worth $303,000 after purchasing an additional 119 shares during the last quarter. CWM LLC lifted its position in Coca-Cola Europacific Partners by 11.1% during the fourth quarter. CWM LLC now owns 1,370 shares of the company’s stock valued at $124,000 after purchasing an additional 137 shares during the last quarter. Quarry LP increased its holdings in shares of Coca-Cola Europacific Partners by 59.1% in the 4th quarter. Quarry LP now owns 393 shares of the company’s stock worth $36,000 after buying an additional 146 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Coca-Cola Europacific Partners by 18.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,015 shares of the company’s stock valued at $92,000 after buying an additional 155 shares in the last quarter. Hedge funds and other 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.