Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 1-Year High Following Analyst Upgrade

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s stock price reached a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $82.00 to $90.00. Evercore ISI currently has an outperform rating on the stock. Coca-Cola Europacific Partners traded as high as $86.98 and last traded at $86.74, with a volume of 3021005 shares changing hands. The stock had previously closed at $84.90.

CCEP has been the subject of several other reports. Sanford C. Bernstein began coverage on Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price objective for the company. Barclays decreased their price target on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $82.00 in a research note on Wednesday, November 27th. Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, UBS Group raised their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four research 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. Based on data from MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Trading of Coca-Cola Europacific Partners

Large investors have recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in Coca-Cola Europacific Partners in the third quarter worth $6,975,000. Transform Wealth LLC lifted its stake in Coca-Cola Europacific Partners by 7.7% during the fourth quarter. Transform Wealth LLC now owns 138,691 shares of the company’s stock worth $10,653,000 after purchasing an additional 9,864 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coca-Cola Europacific Partners by 2.9% during the third quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock worth $160,138,000 after purchasing an additional 58,247 shares during the last quarter. Quantbot Technologies LP lifted its stake in Coca-Cola Europacific Partners by 617.2% during the third quarter. Quantbot Technologies LP now owns 44,660 shares of the company’s stock worth $3,517,000 after purchasing an additional 38,433 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of Coca-Cola Europacific Partners by 7.9% in the 3rd quarter. National Pension Service now owns 449,656 shares of the company’s stock valued at $35,410,000 after acquiring an additional 33,082 shares during the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

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 business has a 50 day moving average price of $77.66 and a two-hundred day moving average price of $77.80. The company has a market cap of $39.98 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 3.79 and a beta of 0.91.

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.