Coca-Cola Europacific Partners’ (CCEP) “Overweight” Rating Reiterated at Barclays

Barclays reissued their overweight rating on shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in a research report released on Tuesday, Marketbeat.com reports. The brokerage currently has a $104.00 price objective on the stock, up from their previous price objective of $101.00.

Several other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. UBS Group increased their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.57.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP opened at $96.13 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.62. The company’s fifty day moving average price is $92.02 and its 200 day moving average price is $86.34. The company has a market capitalization of $44.31 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 4.83 and a beta of 0.77. Coca-Cola Europacific Partners has a one year low of $71.49 and a one year high of $97.23.

Coca-Cola Europacific Partners Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were issued a dividend of $0.8993 per share. This represents a yield of 2.4%. The ex-dividend date was Friday, May 16th.

Institutional Trading of Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCEP. Invesco Ltd. boosted its position in shares of Coca-Cola Europacific Partners by 2.1% in the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company’s stock worth $899,533,000 after purchasing an additional 215,966 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Coca-Cola Europacific Partners by 462.7% during the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company’s stock worth $862,167,000 after acquiring an additional 8,126,996 shares in the last quarter. FMR LLC grew its position in Coca-Cola Europacific Partners by 3.3% in the fourth quarter. FMR LLC now owns 7,234,642 shares of the company’s stock valued at $555,693,000 after purchasing an additional 229,679 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock valued at $540,050,000 after acquiring an additional 1,214,493 shares in the last quarter. Finally, Amundi grew its stake in Coca-Cola Europacific Partners by 1.6% in the first quarter. Amundi now owns 3,128,598 shares of the company’s stock valued at $281,009,000 after purchasing an additional 49,747 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.