Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 52-Week High - Time to Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $93.61 and last traded at $93.53, with a volume of 1514553 shares changing hands. The stock had previously closed at $92.86.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CCEP shares. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Barclays raised their price objective on shares of 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. Evercore ISI upped their target price on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

The firm has a market capitalization of $42.80 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 4.89 and a beta of 0.78. The company has a 50-day moving average price of $89.27 and a 200-day moving average price of $83.56. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

Coca-Cola Europacific Partners Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Coca-Cola Europacific Partners by 2.1% during the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company's stock worth $899,533,000 after purchasing an additional 215,966 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Coca-Cola Europacific Partners by 462.7% in the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock worth $862,167,000 after buying an additional 8,126,996 shares during the period. FMR LLC grew its holdings in shares of Coca-Cola Europacific Partners by 3.3% during the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after buying an additional 229,679 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Coca-Cola Europacific Partners by 24.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock valued at $540,050,000 after buying an additional 1,214,493 shares during the period. Finally, Amundi lifted its stake in Coca-Cola Europacific Partners by 1.6% in the 1st quarter. Amundi now owns 3,128,598 shares of the company's stock worth $281,009,000 after acquiring an additional 49,747 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

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.