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 0.53% to 6.3 million shares with purchase of 33501.0 shares. This fresh investment now brings its stake to 1.37% valued currently at $382.17 million. In addition, Ninety One UK Ltd. raised its holdings by 16541.0 to 5.22 million shares. And SSgA Funds Management, Inc. has lifted its position by 7.63% or 0.35 million shares – to 4.89 million shares.
With over 30.07 million Coca-Cola Europacific Partners Plc (CCEP) shares trading Friday and a closing price of $64.69 on the day, the dollar volume was approximately $1.95 billion. The shares have shown a negative half year performance of -1.01% and its price on 12/15/23 lost nearly -0.37%. Currently, there are 457.11M common shares owned by the public and among those 204.18M 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: 20 analysts who have offered their price forecasts for CCEP have a consensus price objective of $65.59. The analysts have set the share’s price value over the next 12 months at a high of $77.00 and a low of $54.50. The average price target is 8.57% above its recent price level and a downside to the estimated low will see the stock lose -18.7% over that period. But an upside of 15.99% will see the stock hit the forecast high price target while median target price for the stock is $64.69.
Insiders at the company have transacted a total of 332 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 300 of these insider trades were purchases, accounting for 39,427,162 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 174,871 shares.
The top 3 mutual fund holders in Coca-Cola Europacific Partners Plc are Lazard International Strategic Eq, Fidelity Funds SICAV – European G, and Fidelity Series Value Discovery F. Lazard International Strategic Eq owns 2.28 million shares of the company’s stock, all valued at over $138.06 million. The company sold 39853.0 shares recently to bring their total holdings to about 0.50% of the shares outstanding. Fidelity Series Value Discovery F sold 30300.0 shares to bring its total holdings to over 1.8 million shares at a value of $109.15 million. Fidelity Series Value Discovery F now owns shares totaling to 0.39% of the shares outstanding.
Shares of Coca-Cola Europacific Partners Plc (NASDAQ: CCEP) opened at $64.98, up $0.05 from a prior closing price of $64.93. The company’s stock has a 5-day price change of 2.02% and 2.41% over the past three months. CCEP shares are trading 16.94% year to date (YTD), with the 12-month market performance up to 17.73% higher. It has a 12-month low price of $53.22 and touched a high of $66.79 over the same period. CCEP has an average intraday trading volume of 1.48 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 4.45%, 7.34%, and 4.54% respectively.
Institutional ownership of Coca-Cola Europacific Partners Plc (NASDAQ: CCEP) shares accounts for 33.27% of the company’s 457.11M shares outstanding. Mutual fund holders own 16.41%, while other institutional holders and individual stakeholders account for 17.38% and — respectively.
It has a market capitalization of $29.68B and a beta (3y monthly) value of 0.82. The stock’s trailing 12-month PE ratio is 16.71, while the earnings-per-share (ttm) stands at $3.87. The company has a PEG of 1.88 and a Quick Ratio of 0.66 with the debt-to-equity ratio at 1.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.86% over the week and 1.63% over the month.
Analysts forecast that Coca-Cola Europacific Partners Plc (CCEP) will achieve an EPS of $Coca-Cola Europacific Partners for the current quarter, $64.69 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $CSI Compressco LP while analysts give the company a high EPS estimate of $Coeptis Therapeutics Holdings,. Comparatively, EPS for the current quarter was $Cryo-Cell International, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 6.94%, and 9.12% over the next financial year. EPS should shrink at an annualized rate of 8.87% over the next five years, compared to 16.71% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Coca-Cola Europacific Partners Plc (CCEP) as a “Strong Buy” at a consensus score of 1.70. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
