Coca-Cola Europacific Partners (NASDAQ:CCEP) Downgraded to “Neutral” at BNP Paribas

BNP Paribas cut shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) from an outperform rating to a neutral rating in a report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $81.00 target price on the stock.

Several other brokerages have also weighed in on CCEP. StockNews.com lowered shares of Coca-Cola Europacific Partners from a buy rating to a hold rating in a research report on Sunday, May 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a buy rating in a research report on Monday, September 9th. Bank of America increased their price objective on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Finally, Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the company an overweight rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners has an average rating of Moderate Buy and an average price target of $79.78.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $81.54 on Tuesday. The firm’s fifty day moving average price is $76.23 and its two-hundred day moving average price is $73.31. Coca-Cola Europacific Partners has a 1 year low of $56.28 and a 1 year high of $82.14. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Large investors have recently bought and sold shares of the company. Voisard Asset Management Group Inc. acquired a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $33,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 220.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the company’s stock valued at $34,000 after purchasing an additional 352 shares in the last quarter. New Millennium Group LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $37,000. Crewe Advisors LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $36,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $36,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.