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

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

Wall Street Analysts Forecast Growth

CCEP has been the topic of several analyst reports. Barclays increased their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI increased their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Finally, UBS Group increased their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Coca-Cola Europacific Partners Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63. The company has a market capitalization of $42.77 billion, a P/E ratio of 19.09, a P/E/G ratio of 4.89 and a beta of 0.78. The stock's 50 day simple moving average is $89.49 and its two-hundred day simple moving average is $83.75.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared 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. This represents a dividend yield of 2.4%. The ex-dividend date was Friday, May 16th. Coca-Cola Europacific Partners's dividend payout ratio (DPR) is 16.26%.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC increased its stake in Coca-Cola Europacific Partners by 8.5% in the fourth quarter. Apollon Wealth Management LLC now owns 2,911 shares of the company's stock valued at $224,000 after purchasing an additional 228 shares in the last quarter. Savant Capital LLC increased its stake in Coca-Cola Europacific Partners by 6.7% in the fourth quarter. Savant Capital LLC now owns 6,816 shares of the company's stock valued at $524,000 after purchasing an additional 429 shares in the last quarter. Principal Securities Inc. increased its stake in Coca-Cola Europacific Partners by 12.6% in the fourth quarter. Principal Securities Inc. now owns 8,878 shares of the company's stock valued at $682,000 after purchasing an additional 994 shares in the last quarter. Principal Financial Group Inc. increased its stake in Coca-Cola Europacific Partners by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,910 shares of the company's stock valued at $1,299,000 after purchasing an additional 375 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Coca-Cola Europacific Partners by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 105,824 shares of the company's stock valued at $8,128,000 after purchasing an additional 4,420 shares in the last quarter. 31.35% of the stock is owned by 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.