Coca-Cola Europacific Partners (NASDAQ:CCEP) Price Target Raised to $115.00

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its price target increased by UBS Group from $107.00 to $115.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also commented on CCEP. Sanford C. Bernstein reissued a “market perform” rating and issued a $110.00 price target on shares of Coca-Cola Europacific Partners in a research report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an “underweight” rating and a $92.00 price target for the company. Wells Fargo & Company raised their price target on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday. ING Group downgraded shares of Coca-Cola Europacific Partners to a “hold” rating in a research report on Friday, September 18th. Finally, Barclays reduced their price objective on shares of Coca-Cola Europacific Partners from $119.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.33.

Coca-Cola Europacific Partners Price Performance

CCEP traded down $1.16 during trading on Wednesday, hitting $116.13. 2,081,158 shares of the stock were exchanged, compared to its average volume of 1,748,332. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. The firm has a 50 day simple moving average of $106.69 and a 200 day simple moving average of $101.26. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $119.09.

Coca-Cola Europacific Partners Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be issued a €1.42 dividend. This represents a yield of 286.0%. The ex-dividend date of this dividend is Friday, November 20th.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in Coca-Cola Europacific Partners during the third quarter worth about $30,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 285 shares during the period. Whipplewood Advisors LLC grew its stake in shares of Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock worth $36,000 after purchasing an additional 369 shares during the period. Eastern Bank purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter valued at approximately $49,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 1st quarter valued at approximately $72,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company’s brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee.

CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.

Damian Gammell is CCEP’s chief executive officer.