Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 12-Month High – Still a Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $92.94 and last traded at $92.90, with a volume of 297232 shares changing hands. The stock had previously closed at $92.02.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCEP. Kepler Capital Markets lowered Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Barclays boosted their target price 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. UBS Group raised 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. Finally, Evercore ISI boosted their price objective 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. One 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 company. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Coca-Cola Europacific Partners Price Performance

The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 4.89 and a beta of 0.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The company has a 50-day simple moving average of $88.50 and a two-hundred day simple moving average of $83.09.

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 issued a dividend of $0.8993 per share. The ex-dividend date was Friday, May 16th. This represents a yield of 2.4%. Coca-Cola Europacific Partners’s payout ratio is 16.26%.

Institutional Trading of Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCEP. Geneos Wealth Management Inc. grew its position in shares of Coca-Cola Europacific Partners by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock valued at $70,000 after acquiring an additional 156 shares during the period. SCS Capital Management LLC acquired a new stake in Coca-Cola Europacific Partners in the 1st quarter valued at about $3,159,000. Axiom Investors LLC DE grew its holdings in Coca-Cola Europacific Partners by 48.5% during the first quarter. Axiom Investors LLC DE now owns 166,475 shares of the company’s stock worth $14,488,000 after purchasing an additional 54,350 shares during the period. United Services Automobile Association bought a new position in Coca-Cola Europacific Partners during the first quarter worth about $605,000. Finally, Goldman Sachs Group Inc. increased 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 worth $540,050,000 after buying an additional 1,214,493 shares during 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.