Brokerages Set Coca-Cola Europacific Partners (NASDAQ:CCEP) Target Price at $107.12

Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $107.1250.

CCEP has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Weiss Ratings cut Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays upped their target price on Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, July 2nd. Finally, UBS Group lifted their price target 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.

Coca-Cola Europacific Partners Stock Performance

NASDAQ:CCEP opened at $105.50 on Friday. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90. The company’s fifty day moving average price is $97.30 and its 200-day moving average price is $96.22. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Coca-Cola Europacific Partners Dividend Announcement

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

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the fourth quarter valued at $363,294,000. Lazard Asset Management LLC increased its stake in shares of Coca-Cola Europacific Partners by 310.4% during the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock worth $210,802,000 after purchasing an additional 1,762,299 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth about $97,058,000. Bank of America Corp DE raised 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 purchasing an additional 709,723 shares during the last quarter. Finally, Man Group plc raised its position in shares of Coca-Cola Europacific Partners by 219.8% during the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company’s stock worth $92,884,000 after purchasing an additional 688,506 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other 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.