SSgA Funds Management, Inc. 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 3.99% to 4.59 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 1.00% valued currently at $295.84 million. In addition, Fidelity Management & Research Co raised its holdings by 0.38 million to 3.57 million shares.
With over 1.52 million Coca-Cola Europacific Partners PLC (CCEP) shares trading Monday and a closing price of $64.73 on the day, the dollar volume was approximately $98.29 million. The shares have shown a positive half year performance of 27.72% and its price on 05/22/23 lost nearly -1.57%. Currently, there are 457.00M 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 $62.53. The analysts have set the share’s price value over the next 12 months at a high of $72.88 and a low of $54.66. The average price target is 5.09% above its recent price level and a downside to the estimated low will see the stock lose -18.42% over that period. But an upside of 11.18% will see the stock hit the forecast high price target while median target price for the stock is $63.69.
Insiders at the company have transacted a total of 197 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 183 of these insider trades were purchases, accounting for 376,628 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 172,485 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 2.53 million shares of the company’s stock, all valued at over $163.34 million. The company sold 98464.0 shares recently to bring their total holdings to about 0.55% of the shares outstanding. John Hancock III – Disciplined Va bought 26222.0 shares to bring its total holdings to over 1.92 million shares at a value of $123.78 million. John Hancock III – Disciplined Va now owns shares totaling to 0.42% of the shares outstanding.
Shares of Coca-Cola Europacific Partners PLC (NASDAQ: CCEP) opened at $65.96, up $0.2 from a prior closing price of $65.76. However, the script later moved the day high at 66.13, down -1.57%. The company’s stock has a 5-day price change of -2.10% and 17.86% over the past three months. CCEP shares are trading 17.01% year to date (YTD), with the 12-month market performance up to 25.64% higher. It has a 12-month low price of $41.80 and touched a high of $66.79 over the same period. CCEP has an average intraday trading volume of 1.11 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 -0.78%, 6.14%, and 19.92% respectively.
Institutional ownership of Coca-Cola Europacific Partners PLC (NASDAQ: CCEP) shares accounts for 32.00% of the company’s 457.00M shares outstanding. Mutual fund holders own 14.73%, while other institutional holders and individual stakeholders account for 17.82% and — respectively.
It has a market capitalization of $29.65B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 18.25, while the earnings-per-share (ttm) stands at $3.55. The company has a PEG of 2.08 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 1.57% over the week and 1.42% 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 $4.25 for 2024. 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 53.20%, and 9.00% over the next financial year. EPS should shrink at an annualized rate of 8.79% 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, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
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