Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Gap Up – Here’s Why

Coca-Cola Europacific Partners (NASDAQ:CCEP)’s share price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CCEP shares. Wells Fargo & Company assumed coverage on Coca-Cola Europacific Partners in a research report on Friday, June 12th. They set an “overweight” rating and a $110.00 target price on the stock. Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Barclays increased their price objective on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Coca-Cola Europacific Partners Stock Up 5.4%

The company has a 50 day simple moving average of $95.29 and a 200 day simple moving average of $95.19. 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 Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CCEP. Ballast Advisors LLC acquired a new stake in Coca-Cola Europacific Partners during the 1st quarter worth $200,000. Parallel Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company’s stock valued at $303,000 after buying an additional 119 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Coca-Cola Europacific Partners by 8.1% in the first quarter. NewEdge Advisors LLC now owns 3,522 shares of the company’s stock valued at $319,000 after buying an additional 263 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of Coca-Cola Europacific Partners by 215.9% in the first quarter. Optiver Holding B.V. now owns 25,236 shares of the company’s stock worth $2,288,000 after buying an additional 17,248 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter worth about $72,000. 31.35% of the stock is owned by institutional investors and hedge funds.

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.