Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 1-Year High After 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. The stock had previously closed at $84.90.

Several other research firms have also issued reports on CCEP. Barclays lowered their price target on shares of Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Sanford C. Bernstein assumed coverage on shares of Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target on the stock. UBS Group lifted their price objective on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their target price for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after acquiring an additional 2,105,019 shares in the last quarter. FMR LLC increased its stake in shares of Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company’s stock worth $555,693,000 after purchasing an additional 229,679 shares during the last quarter. Amundi raised its stake in shares of Coca-Cola Europacific Partners by 2.9% in the fourth quarter. Amundi now owns 3,078,851 shares of the company’s stock valued at $233,716,000 after buying an additional 87,675 shares during the period. JPMorgan Chase & Co. raised its stake in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Coca-Cola Europacific Partners by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after buying an additional 32,776 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Down 0.4 %

The firm has a 50-day simple moving average of $78.12 and a 200-day simple moving average of $78.00. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Coca-Cola Europacific Partners Company Profile

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.