BlackRock Fund Advisors recently announced the acquisition of new stake in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP). The institutional investor has increased its shareholding in the Consumer Defensive company by 3.46% to 6.3 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 1.38% valued currently at $346.57 million. In addition, Ninety One UK Ltd. raised its holdings by 0.46 million to 5.09 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.99% or 0.18 million shares – to 4.59 million shares.
With over 2.01 million Coca-Cola Europacific Partners PLC (CCEP) shares trading Tuesday and a closing price of $56.35 on the day, the dollar volume was approximately $113.42 million. The shares have shown a positive half year performance of 12.68% and its price on 03/14/23 gained nearly 2.08%. Currently, there are 457.06M common shares owned by the public and among those 289.36M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for CCEP have a consensus price objective of $59.09. The analysts have set the share’s price value over the next 12 months at a high of $70.27 and a low of $46.50. The average price target is 9.54% above its recent price level and a downside to the estimated low will see the stock lose -21.18% over that period. But an upside of 19.81% will see the stock hit the forecast high price target while median target price for the stock is $59.51.
Insiders at the company have transacted a total of 192 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 190 of these insider trades were purchases, accounting for 33,697 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 24,589 shares.
The top 3 mutual fund holders in Coca-Cola Europacific Partners PLC are Lazard International Strategic Eq, John Hancock III – Disciplined Va, and John Hancock III – Disciplined Va. Lazard International Strategic Eq owns 2.72 million shares of the company’s stock, all valued at over $149.49 million. The company sold -0.1 million shares recently to bring their total holdings to about 0.60% of the shares outstanding. John Hancock III – Disciplined Va now owns shares totaling to 0.41% of the shares outstanding.
Shares of Coca-Cola Europacific Partners PLC (NASDAQ: CCEP) opened at $55.58, up $0.38 from a prior closing price of $55.20. However, the script later moved the day high at 56.51, up 2.08%. The company’s stock has a 5-day price change of 2.42% and 4.55% over the past three months. CCEP shares are trading 1.86% year to date (YTD), with the 12-month market performance up to 23.55% higher. It has a 12-month low price of $41.80 and touched a high of $57.63 over the same period. CCEP has an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.61%, 1.33%, and 8.78% respectively.
Institutional ownership of Coca-Cola Europacific Partners PLC (NASDAQ: CCEP) shares accounts for 32.00% of the company’s 457.06M shares outstanding. Mutual fund holders own 14.45%, while other institutional holders and individual stakeholders account for 17.81% and — respectively.
It has a market capitalization of $25.87B and a beta (3y monthly) value of 0.79. The stock’s trailing 12-month PE ratio is 16.21, while the earnings-per-share (ttm) stands at $3.48. The company has a PEG of 1.97 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.18% over the week and 1.96% over the month.
Analysts forecast that Coca-Cola Europacific Partners PLC (CCEP) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $3.87 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 53.10%, and 9.50% over the next financial year. EPS should shrink at an annualized rate of 8.24% over the next five years, compared to 9.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Coca-Cola Europacific Partners PLC (CCEP) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 4 of the 19 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CCEP, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on August 03, 2022, with the firm’s price target at $62-$68. JP Morgan on their part issued Overweight rating on June 02, 2021.
