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

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $92.94 and last traded at $92.90, with a volume of 297232 shares traded. The stock had previously closed at $92.02.

Analysts Set New Price Targets

CCEP has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on shares of 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. Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. Barclays upped 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, UBS Group boosted their target price on Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Coca-Cola Europacific Partners Stock Performance

The business has a 50 day moving average of $88.38 and a 200-day moving average of $82.92. The company has a market capitalization of $42.82 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81.

Coca-Cola Europacific Partners Cuts Dividend

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

Institutional Trading of Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently bought and sold shares of CCEP. Blue Trust Inc. boosted its stake in Coca-Cola Europacific Partners by 16.2% during the fourth quarter. Blue Trust Inc. now owns 1,189 shares of the company's stock valued at $94,000 after buying an additional 166 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 9.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,230 shares of the company's stock worth $6,746,000 after purchasing an additional 7,378 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Coca-Cola Europacific Partners by 14.8% in the 4th quarter. Bleakley Financial Group LLC now owns 11,104 shares of the company's stock worth $853,000 after buying an additional 1,434 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 5.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 550,630 shares of the company's stock worth $42,294,000 after buying an additional 28,867 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Coca-Cola Europacific Partners by 10.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,533 shares of the company's stock valued at $1,577,000 after buying an additional 1,864 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

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.

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