Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Gap Up – Here’s Why

Coca-Cola Europacific Partners (NASDAQ:CCEP) shares gapped up before the market opened on Wednesday . The stock had previously closed at $100.07, but opened at $104.02. Coca-Cola Europacific Partners shares last traded at $104.4010, with a volume of 282,461 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCEP. Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. UBS Group boosted their target price on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company began coverage on Coca-Cola Europacific Partners in a research note on Friday, June 12th. They set an “overweight” rating and a $110.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Coca-Cola Europacific Partners Stock Performance

The business’s 50 day moving average price is $95.29 and its 200 day moving average price is $95.19. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80.

Coca-Cola Europacific Partners Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were given a dividend of $0.82 per share. This represents a yield of 213.0%. The ex-dividend date was Friday, May 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayban purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Coca-Cola Europacific Partners by 407.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 285 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in Coca-Cola Europacific Partners by 1,537.5% in 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. Quarry LP raised its holdings in Coca-Cola Europacific Partners by 59.1% in the 4th quarter. Quarry LP now owns 393 shares of the company’s stock worth $36,000 after purchasing an additional 146 shares during the period. Finally, 1248 Management LLC purchased a new position in Coca-Cola Europacific Partners during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.