Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) Given Average Recommendation of “Buy” by Brokerages

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $81.22.

CCEP has been the subject of several research analyst reports. Evercore ISI increased their price objective on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. BNP Paribas lowered Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd.

Coca-Cola Europacific Partners Price Performance

CCEP opened at $78.21 on Monday. Coca-Cola Europacific Partners has a 12-month low of $59.31 and a 12-month high of $82.32. The stock has a 50-day moving average price of $77.87 and a 200-day moving average price of $76.10. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $1.34 dividend. This is a positive change from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. The ex-dividend date of this dividend is Friday, November 15th. This represents a dividend yield of 2.6%.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently bought and sold shares of the business. New Covenant Trust Company N.A. acquired a new position in shares of Coca-Cola Europacific Partners during the first quarter worth $36,000. Crewe Advisors LLC purchased a new stake in Coca-Cola Europacific Partners in the first quarter valued at $36,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola Europacific Partners during the 2nd quarter worth about $37,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after acquiring an additional 139 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Coca-Cola Europacific Partners by 142.0% during the 2nd quarter. Mather Group LLC. now owns 668 shares of the company’s stock worth $47,000 after acquiring an additional 392 shares in the last quarter. 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.