Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Receives Consensus Rating of “Buy” from Brokerages

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) have received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $73.56.

A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Argus boosted their target price on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. BNP Paribas upgraded shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 target price for the company in a research note on Friday, January 12th. 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. Finally, Barclays boosted their target price on shares of Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several large investors have recently made changes to their positions in CCEP. FMR LLC boosted its position in shares of Coca-Cola Europacific Partners by 3.7% in the third quarter. FMR LLC now owns 6,359,772 shares of the company’s stock valued at $397,359,000 after acquiring an additional 225,744 shares during the period. FIL Ltd boosted its position in shares of Coca-Cola Europacific Partners by 9.6% in the fourth quarter. FIL Ltd now owns 3,629,675 shares of the company’s stock valued at $242,245,000 after acquiring an additional 317,936 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Coca-Cola Europacific Partners by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,525,434 shares of the company’s stock valued at $157,789,000 after acquiring an additional 47,501 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Coca-Cola Europacific Partners by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 2,221,296 shares of the company’s stock valued at $138,787,000 after acquiring an additional 168,420 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Coca-Cola Europacific Partners by 89.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after acquiring an additional 1,017,278 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Stock Down 0.6 %

Shares of CCEP stock opened at $71.59 on Thursday. The firm’s 50 day moving average price is $69.84 and its two-hundred day moving average price is $65.99. Coca-Cola Europacific Partners has a fifty-two week low of $56.28 and a fifty-two week high of $72.67. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.27.

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

Coca-Cola Europacific Partners Cuts Dividend

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

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.