Coca-Cola Europacific Partners (NASDAQ:CCEP) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other research analysts also recently issued reports on the company. UBS Group raised their price target on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays raised their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP traded up $1.62 during mid-day trading on Friday, reaching $92.72. The company's stock had a trading volume of 1,615,685 shares, compared to its average volume of 1,799,000. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $94.74. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The company's 50 day moving average is $90.39 and its 200 day moving average is $84.63.

Coca-Cola Europacific Partners Cuts Dividend

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

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently modified their holdings of the business. LPL Financial LLC grew its holdings in Coca-Cola Europacific Partners by 28.1% during the fourth quarter. LPL Financial LLC now owns 117,700 shares of the company's stock worth $9,041,000 after acquiring an additional 25,840 shares during the period. JPMorgan Chase & Co. lifted its holdings in Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after acquiring an additional 872,060 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at $446,000. Amundi lifted its holdings in Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company's stock valued at $233,716,000 after acquiring an additional 87,675 shares during the period. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at $12,075,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

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.