Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 12-Month High - Still a Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $92.05 and last traded at $91.73, with a volume of 310959 shares trading hands. The stock had previously closed at $90.65.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CCEP shares. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research report on Tuesday, February 25th. UBS Group lifted their price target on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Evercore ISI lifted their price objective on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Coca-Cola Europacific Partners Stock Up 1.6%

The company has a 50 day moving average price of $87.97 and a two-hundred day moving average price of $82.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The stock has a market cap of $42.47 billion, a PE ratio of 18.96, a PEG ratio of 4.89 and a beta of 0.77.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were paid a $0.8993 dividend. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio is currently 16.26%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Coca-Cola Europacific Partners by 462.7% during the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock valued at $862,167,000 after acquiring an additional 8,126,996 shares during the last quarter. Norges Bank purchased a new stake in Coca-Cola Europacific Partners during the fourth quarter valued at $190,999,000. Invesco Ltd. increased its position in Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock valued at $777,312,000 after acquiring an additional 2,105,019 shares during the last quarter. Nuveen LLC purchased a new stake in Coca-Cola Europacific Partners during the first quarter valued at $162,036,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Coca-Cola Europacific Partners by 253.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock valued at $169,537,000 after acquiring an additional 1,397,394 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

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.