Barclays Cuts Coca-Cola Europacific Partners (NASDAQ:CCEP) Price Target to $82.00

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its price target decreased by Barclays from $84.00 to $82.00 in a research report sent to investors on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also issued reports 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. Bank of America upped their price objective on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a buy rating in a research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of Moderate Buy and an average price target of $76.80.

Coca-Cola Europacific Partners Stock Performance

Shares of NASDAQ CCEP opened at $73.66 on Friday. Coca-Cola Europacific Partners has a 12-month low of $56.28 and a 12-month high of $76.44. The firm’s 50-day simple moving average is $73.76 and its 200 day simple moving average is $70.74. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.27.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a dividend yield of 5.6%.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Hedge funds have recently added to or reduced their stakes in the stock. Waverly Advisors LLC increased its stake in shares of Coca-Cola Europacific Partners by 1.0% in the 1st quarter. Waverly Advisors LLC now owns 14,856 shares of the company’s stock valued at $1,039,000 after acquiring an additional 151 shares during the last quarter. NBC Securities Inc. increased its stake in Coca-Cola Europacific Partners by 12.9% in the fourth quarter. NBC Securities Inc. now owns 1,326 shares of the company’s stock valued at $88,000 after purchasing an additional 152 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Coca-Cola Europacific Partners by 24.1% in the fourth quarter. Global Retirement Partners LLC now owns 799 shares of the company’s stock worth $54,000 after purchasing an additional 155 shares during the period. New York Life Investment Management LLC boosted its position in shares of Coca-Cola Europacific Partners by 4.0% during the fourth quarter. New York Life Investment Management LLC now owns 4,096 shares of the company’s stock worth $273,000 after purchasing an additional 158 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Coca-Cola Europacific Partners by 0.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,994 shares of the company’s stock valued at $3,424,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 31.35% of the company’s stock.

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.