Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Receives $73.56 Consensus Target Price from Analysts

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $73.56.

Several analysts recently weighed in on the stock. BNP Paribas upgraded shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective on the stock in a research report on Friday, January 12th. UBS Group boosted their price objective on Coca-Cola Europacific Partners from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Finally, Argus raised their price target on Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

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

Coca-Cola Europacific Partners Stock Up 0.4 %

Shares of CCEP stock opened at $71.81 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.72 and a current ratio of 0.91. The business has a 50 day moving average of $69.96 and a two-hundred day moving average of $66.12. Coca-Cola Europacific Partners has a 52 week low of $56.28 and a 52 week high of $72.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. As a group, equities analysts predict that Coca-Cola Europacific Partners will post 4.15 earnings per share for the current fiscal year.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 23rd. Investors 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 is Thursday, May 9th.

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.