Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Gap Up – Time to Buy?

Coca-Cola Europacific Partners (NASDAQ:CCEP) gapped up before the market opened on Wednesday . The stock had previously closed at $100.07, but opened at $104.02. Coca-Cola Europacific Partners shares last traded at $104.4010, with a volume of 282,461 shares.

Analysts Set New Price Targets

CCEP has been the subject of a number of research reports. Barclays increased their price target on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday. Wells Fargo & Company began coverage on Coca-Cola Europacific Partners in a report on Friday, June 12th. They issued an “overweight” rating and a $110.00 target price for the company. UBS Group increased their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.50.

Coca-Cola Europacific Partners Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average of $95.68 and a 200-day moving average of $95.43.

Coca-Cola Europacific Partners Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th were given a dividend of $0.82 per share. This represents a dividend yield of 213.0%. The ex-dividend date was Friday, May 15th.

Institutional Trading of Coca-Cola Europacific Partners

Several institutional investors have recently added to or reduced their stakes in CCEP. Norges Bank bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth approximately $363,294,000. Invesco Ltd. lifted its stake in Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after buying an additional 3,751,430 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Coca-Cola Europacific Partners by 310.4% during the 3rd quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock worth $210,802,000 after buying an additional 1,762,299 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Coca-Cola Europacific Partners during the 1st quarter worth approximately $97,058,000. Finally, Bank of America Corp DE grew its position in shares of Coca-Cola Europacific Partners by 32.8% during the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock worth $266,158,000 after buying an additional 709,723 shares during the period. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.