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

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) shares reached a new 52-week high during 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 traded. The stock had previously closed at $93.58.

Several other research analysts have also recently issued reports on CCEP. Barclays upped their price target on Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Wall Street Zen upgraded Coca-Cola Europacific Partners from a "hold" rating to a "buy" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and an average price target of $89.13.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in shares of Coca-Cola Europacific Partners by 6.0% in the first quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock valued at $176,000 after purchasing an additional 115 shares in the last quarter. BKM Wealth Management LLC raised its position 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 valued at $682,000 after buying an additional 124 shares during the period. Cibc World Markets Corp raised its position in Coca-Cola Europacific Partners by 1.4% during the fourth quarter. Cibc World Markets Corp now owns 10,200 shares of the company's stock valued at $783,000 after buying an additional 139 shares during the period. TIAA Trust National Association lifted its stake in 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 worth $263,000 after acquiring an additional 145 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $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 Price Performance

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 stock has a 50-day simple moving average of $90.62 and a 200 day simple moving average of $84.85. The stock has a market capitalization of $44.69 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 5.02 and a beta of 0.77.

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 issued a dividend of $0.8993 per share. This represents a dividend yield of 2.4%. The ex-dividend date was Friday, May 16th.

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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