Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Receives $84.44 Consensus Target Price from Brokerages

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $84.44.

CCEP has been the subject of several research reports. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein initiated coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price target on the stock. Morgan Stanley upgraded Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $82.00 in a research note on Wednesday, November 27th. Finally, Barclays upped their price objective on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors have recently made changes to their positions in CCEP. Lombard Odier Asset Management Europe Ltd increased its holdings in Coca-Cola Europacific Partners by 103.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 92,770 shares of the company’s stock valued at $6,760,000 after buying an additional 47,165 shares during the last quarter. World Investment Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the third quarter valued at $6,975,000. Diversified Trust Co bought a new stake in Coca-Cola Europacific Partners during the third quarter valued at about $2,513,000. Marshall Wace LLP purchased a new stake in Coca-Cola Europacific Partners in the second quarter worth about $1,846,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Coca-Cola Europacific Partners by 2,575.0% in the third quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company’s stock worth $20,244,000 after buying an additional 246,458 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Performance

CCEP opened at $77.55 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $77.48 and a two-hundred day simple moving average of $76.63. Coca-Cola Europacific Partners has a 12-month low of $64.02 and a 12-month high of $82.32.

Coca-Cola Europacific Partners Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a $1.34 dividend. This is an increase from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend was Friday, November 15th. This represents a yield of 2.6%.

About Coca-Cola Europacific Partners

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.