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

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $73.56.

A number of brokerages recently weighed in on CCEP. BNP Paribas upgraded shares of Coca-Cola Europacific Partners from a “neutral” rating to an “outperform” rating and set a $79.00 price objective for the company in a report on Friday, January 12th. StockNews.com raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Barclays lifted their price objective on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Argus raised their price target on shares of Coca-Cola Europacific Partners from $72.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola Europacific Partners from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 28th.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $73.52 on Thursday. The stock’s fifty day moving average price is $70.00 and its 200-day moving average price is $66.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.72. Coca-Cola Europacific Partners has a 12 month low of $56.28 and a 12 month high of $73.64.

Coca-Cola Europacific Partners (NASDAQ:CCEP) last released its quarterly earnings data on Friday, February 23rd. The company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. On average, sell-side analysts expect that Coca-Cola Europacific Partners will post 4.15 earnings per share for the current year.

Coca-Cola Europacific Partners Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, May 9th. This represents a yield of 5.6%.

Institutional Inflows and Outflows

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

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.