UBS Group Cuts Coca-Cola Europacific Partners (NASDAQ:CCEP) Price Target to $103.00

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its target price trimmed by UBS Group from $105.00 to $103.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on CCEP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Coca-Cola Europacific Partners Stock Up 0.7%

Shares of NASDAQ CCEP opened at $88.74 on Thursday. Coca-Cola Europacific Partners has a 52-week low of $73.40 and a 52-week high of $100.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a fifty day moving average of $90.40 and a 200-day moving average of $91.39.

Coca-Cola Europacific Partners Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, December 3rd. Investors of record on Friday, November 14th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a yield of 277.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CCEP. Truist Financial Corp grew its position in shares of Coca-Cola Europacific Partners by 10,480.7% during the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock worth $429,994,000 after buying an additional 4,711,093 shares in the last quarter. Norges Bank bought a new position in Coca-Cola Europacific Partners during the 2nd quarter worth approximately $381,335,000. Invesco Ltd. grew its position in shares of Coca-Cola Europacific Partners by 31.6% in the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after acquiring an additional 3,751,430 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Coca-Cola Europacific Partners by 138.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after acquiring an additional 3,392,680 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Coca-Cola Europacific Partners by 12,873.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after acquiring an additional 2,518,085 shares during 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 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.