Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 12-Month High Following Analyst Upgrade

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s stock price reached a new 52-week high during trading 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.

A number of other equities analysts have also commented on CCEP. Sanford C. Bernstein began coverage on Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target for the company. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Barclays lowered 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 report on Friday, January 17th. JPMorgan Chase & Co. cut 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 note on Wednesday, November 27th. Finally, UBS Group lifted their target price 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Institutional Trading of Coca-Cola Europacific Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $27,000. Optiver Holding B.V. purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its position in Coca-Cola Europacific Partners by 85.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock valued at $33,000 after acquiring an additional 197 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Coca-Cola Europacific Partners in the 4th quarter valued at $34,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Coca-Cola Europacific Partners by 38.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after acquiring an additional 139 shares during the period. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Trading Down 0.4 %

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

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.