Brokerages Set Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) PT at $84.44

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $84.44.

Several equities research analysts recently commented on the stock. Citigroup upgraded shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein started coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 target price on the stock. UBS Group upped their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays lifted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $82.00 in a report on Wednesday, November 27th.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Coca-Cola Europacific Partners by 307.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock worth $191,984,000 after buying an additional 1,839,321 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Coca-Cola Europacific Partners by 144.1% during the second quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock worth $87,788,000 after purchasing an additional 711,121 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Coca-Cola Europacific Partners during the third quarter worth about $52,364,000. Point72 Europe London LLP acquired a new stake in Coca-Cola Europacific Partners in the second quarter valued at about $26,341,000. Finally, Samlyn Capital LLC boosted its holdings in Coca-Cola Europacific Partners by 23.2% in the 2nd quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after purchasing an additional 349,466 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Stock Up 0.1 %

CCEP stock opened at $75.91 on Tuesday. The stock has a market cap of $34.99 billion, a P/E ratio of 16.94, a PEG ratio of 3.85 and a beta of 0.90. 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 has a twelve month low of $64.75 and a twelve month high of $82.32. The company’s 50 day moving average is $77.02 and its two-hundred day moving average is $76.83.

Coca-Cola Europacific Partners Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a dividend of $1.34 per share. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Coca-Cola Europacific Partners’s previous semi-annual dividend of $0.79. Coca-Cola Europacific Partners’s dividend payout ratio is 35.27%.

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.