Coca-Cola Europacific Partners (NASDAQ:CCEP) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat reports.

Several other analysts also recently commented on the stock. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. BNP Paribas cut Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, September 10th. Barclays lifted their target price on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and an average target price of $83.11.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ:CCEP opened at $78.72 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $77.34 and a two-hundred day simple moving average of $76.38. Coca-Cola Europacific Partners has a 12-month low of $62.93 and a 12-month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $1.34 dividend. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date was Friday, November 15th. This represents a dividend yield of 2.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCEP. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 38.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after buying an additional 139 shares during the last quarter. Janney Capital Management LLC raised its position in Coca-Cola Europacific Partners by 4.4% during the third quarter. Janney Capital Management LLC now owns 3,417 shares of the company’s stock valued at $269,000 after purchasing an additional 145 shares during the period. Signaturefd LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 2.6% in the 2nd quarter. Signaturefd LLC now owns 5,735 shares of the company’s stock worth $418,000 after purchasing an additional 147 shares during the period. CWM LLC increased its position in shares of Coca-Cola Europacific Partners by 14.5% during the 3rd quarter. CWM LLC now owns 1,318 shares of the company’s stock valued at $104,000 after purchasing an additional 167 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in Coca-Cola Europacific Partners by 3.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,605 shares of the company’s stock valued at $336,000 after buying an additional 168 shares during the period. 31.35% of the stock is currently owned by 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.