Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 52-Week High – Here’s Why

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s share price hit 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.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI upped their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. UBS Group upped their price target on shares of Coca-Cola Europacific Partners from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Barclays raised their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Coca-Cola Europacific Partners Price Performance

The firm has a market capitalization of $43.01 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.77. The company’s 50 day moving average is $88.50 and its 200 day moving average is $83.09. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.8993 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 2.4%. Coca-Cola Europacific Partners’s payout ratio is presently 16.26%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. LPL Financial LLC grew its position in Coca-Cola Europacific Partners by 28.1% during the fourth quarter. LPL Financial LLC now owns 117,700 shares of the company’s stock worth $9,041,000 after buying an additional 25,840 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $446,000. Amundi grew its holdings in shares of Coca-Cola Europacific Partners by 2.9% during the 4th quarter. Amundi now owns 3,078,851 shares of the company’s stock worth $233,716,000 after purchasing an additional 87,675 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth $12,075,000. 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.