Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 52-Week High - Should You Buy?

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $97.71 and last traded at $97.26, with a volume of 374326 shares. The stock had previously closed at $96.13.

Analyst Upgrades and Downgrades

CCEP has been the subject of several research reports. UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Barclays reaffirmed an "overweight" rating and issued a $104.00 price target (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.57.

Coca-Cola Europacific Partners Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. The company has a market cap of $44.64 billion, a PE ratio of 19.93, a PEG ratio of 4.90 and a beta of 0.77. The firm's 50 day moving average is $92.17 and its 200-day moving average is $86.54.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 2.4%.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA grew its position in shares of Coca-Cola Europacific Partners by 6.0% in the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock valued at $176,000 after buying an additional 115 shares during the last quarter. BKM Wealth Management LLC grew its position in Coca-Cola Europacific Partners by 1.6% during the 1st quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after purchasing an additional 124 shares during the last quarter. Cibc World Markets Corp grew its position in Coca-Cola Europacific Partners by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after purchasing an additional 139 shares during the last quarter. TIAA Trust National Association grew its position in Coca-Cola Europacific Partners by 4.4% during the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock worth $263,000 after purchasing an additional 145 shares during the last quarter. Finally, Assetmark Inc. grew its position in Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after purchasing an additional 147 shares during the last quarter. 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.