Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 52-Week High on Analyst Upgrade

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $100.00 to $105.00. UBS Group currently has a buy rating on the stock. Coca-Cola Europacific Partners traded as high as $96.55 and last traded at $96.96, with a volume of 2593818 shares changing hands. The stock had previously closed at $93.58.

A number of other brokerages also recently commented on CCEP. Wall Street Zen upgraded shares of Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Barclays increased their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.13.

Institutional Trading of Coca-Cola Europacific Partners

A number of institutional investors have recently bought and sold shares of the company. Private Trust Co. NA increased its position in Coca-Cola Europacific Partners by 6.0% during the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock worth $176,000 after purchasing an additional 115 shares in the last quarter. BKM Wealth Management LLC grew its stake in Coca-Cola Europacific Partners by 1.6% during the first quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after buying an additional 124 shares during the period. Cibc World Markets Corp increased its position in shares of Coca-Cola Europacific Partners by 1.4% in the fourth quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock worth $783,000 after acquiring an additional 139 shares in the last quarter. TIAA Trust National Association raised its stake in shares of Coca-Cola Europacific Partners by 4.4% in the 4th quarter. TIAA Trust National Association now owns 3,420 shares of the company's stock valued at $263,000 after acquiring an additional 145 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Coca-Cola Europacific Partners by 107.3% during the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Up 3.6%

The stock has a market capitalization of $44.69 billion, a PE ratio of 19.95, a PEG ratio of 5.00 and a beta of 0.77. 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 business's 50-day moving average is $90.98 and its two-hundred day moving average is $85.18.

Coca-Cola Europacific Partners Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were paid 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%.

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.