Coca-Cola Europacific Partners (NASDAQ:CCEP) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw unusually-high trading volume on Tuesday . Approximately 854,116 shares traded hands during mid-day trading, a decline of 39% from the previous session’s volume of 1,403,721 shares.The stock last traded at $78.01 and had previously closed at $78.72.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CCEP shares. Citigroup upgraded Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays raised their price objective on shares of 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. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.11.

Coca-Cola Europacific Partners Stock Performance

The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. The company has a 50 day moving average price of $77.34 and a 200-day moving average price of $76.38.

Coca-Cola Europacific Partners Increases Dividend

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

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in Coca-Cola Europacific Partners by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after acquiring an additional 32,776 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Coca-Cola Europacific Partners by 307.3% in 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. Geode Capital Management LLC boosted its holdings in Coca-Cola Europacific Partners by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock worth $160,138,000 after acquiring an additional 58,247 shares in the last quarter. Samlyn Capital LLC raised its position in shares of 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 worth $135,155,000 after purchasing an additional 349,466 shares during the last quarter. Finally, Millennium Management LLC grew its position in Coca-Cola Europacific Partners by 7.6% during the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock valued at $119,217,000 after purchasing an additional 115,604 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

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.