Sanford C. Bernstein Initiates Coverage on Coca-Cola Europacific Partners (NASDAQ:CCEP)

Analysts at Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “market perform” rating and a $82.00 price target on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 6.00% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Citigroup raised Coca-Cola Europacific Partners to a “strong-buy” rating in a research report on Thursday, October 3rd. Evercore ISI boosted their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays boosted their price target on Coca-Cola Europacific Partners from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $82.00 in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.11.

Coca-Cola Europacific Partners Stock Down 0.9 %

CCEP stock opened at $77.36 on Tuesday. Coca-Cola Europacific Partners has a fifty-two week low of $61.13 and a fifty-two week high of $82.32. The business’s 50 day moving average price is $77.38 and its two-hundred day moving average price is $76.26. 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 market capitalization of $35.34 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.90.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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. Point72 Asset Management L.P. boosted its stake in shares of Coca-Cola Europacific Partners by 144.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock worth $87,788,000 after buying an additional 711,121 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Coca-Cola Europacific Partners in the 3rd quarter worth $52,364,000. Point72 Europe London LLP purchased a new position in shares of Coca-Cola Europacific Partners in the 2nd quarter worth $26,341,000. Finally, Samlyn Capital LLC boosted its stake 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 buying an additional 349,466 shares during the last quarter. 31.35% of the stock is owned by institutional investors.

About Coca-Cola Europacific Partners

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.