Coca-Cola Europacific Partners (NASDAQ:CCEP) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) to a strong-buy rating in a report released on Friday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, February 19th. Weiss Ratings lowered Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. upped their price objective on Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. UBS Group upped their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP opened at $99.34 on Friday. 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 has a one year low of $84.65 and a one year high of $110.90. The business has a fifty day moving average price of $94.56 and a 200-day moving average price of $94.51.

Coca-Cola Europacific Partners Dividend Announcement

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

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of institutional investors have recently bought and sold shares of CCEP. Bayban purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in 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 worth $32,000 after buying an additional 285 shares in the last quarter. Whipplewood Advisors LLC increased its stake 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 buying an additional 369 shares in the last quarter. Quarry LP increased its stake 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 buying an additional 146 shares in the last quarter. Finally, 1248 Management LLC purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter worth $38,000. 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.