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

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $100.23 and last traded at $99.85, with a volume of 1631179 shares trading hands. The stock had previously closed at $99.17.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group boosted their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Barclays reissued an "overweight" rating and issued a $104.00 target price (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.57.

Coca-Cola Europacific Partners Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $46.20 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 5.02 and a beta of 0.77. The company has a fifty day moving average price of $92.87 and a two-hundred day moving average price of $86.94.

Coca-Cola Europacific Partners Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CCEP. Vanguard Group Inc. raised its stake in shares of 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 worth $862,167,000 after purchasing an additional 8,126,996 shares during the last quarter. Norges Bank acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at $190,999,000. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after buying an additional 2,105,019 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter worth $162,036,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coca-Cola Europacific Partners by 253.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock valued at $169,537,000 after purchasing an additional 1,397,394 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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