Coca-Cola Europacific Partners (NASDAQ:CCEP) Price Target Increased to $78.00 by Analysts at Barclays

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its target price raised by Barclays from $75.00 to $78.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on CCEP. Argus upped their price target on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Coca-Cola Europacific Partners from a hold rating to a buy rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a buy rating in a report on Thursday, March 28th. UBS Group upped their target price on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a buy rating in a report on Monday, February 26th. Finally, BNP Paribas raised Coca-Cola Europacific Partners from a neutral rating to an outperform rating and set a $79.00 price target on the stock in a research report on Friday, January 12th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of Buy and an average target price of $75.78.

Coca-Cola Europacific Partners Trading Up 0.7 %

Shares of CCEP stock opened at $72.02 on Monday. Coca-Cola Europacific Partners has a 12-month low of $56.28 and a 12-month high of $72.67. The firm has a fifty day moving average of $69.70 and a 200-day moving average of $65.85. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. On average, analysts predict that Coca-Cola Europacific Partners will post 4.18 EPS for the current fiscal year.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.79 per share. This represents a yield of 5.6%. The ex-dividend date of this dividend is Thursday, May 9th.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. AustralianSuper Pty Ltd acquired a new position in Coca-Cola Europacific Partners in the 4th quarter valued at about $1,467,000. Pacer Advisors Inc. grew its position in shares of Coca-Cola Europacific Partners by 1,120.3% in the fourth quarter. Pacer Advisors Inc. now owns 23,332 shares of the company’s stock valued at $1,557,000 after purchasing an additional 21,420 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Coca-Cola Europacific Partners during the third quarter worth approximately $685,000. International Assets Investment Management LLC acquired a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $5,876,000. Finally, Korea Investment CORP boosted its stake in Coca-Cola Europacific Partners by 4.1% in the 3rd quarter. Korea Investment CORP now owns 252,644 shares of the company’s stock valued at $15,843,000 after purchasing an additional 9,893 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.