Coca-Cola Europacific Partners (NASDAQ:CCEP) Lifted to Strong-Buy at Citigroup

Coca-Cola Europacific Partners (NASDAQ:CCEP) was upgraded by analysts at Citigroup to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Bank of America upped their price target on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. BNP Paribas cut shares of Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Barclays raised their price objective on Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus price target of $79.78.

Coca-Cola Europacific Partners Trading Up 1.6 %

CCEP opened at $78.01 on Thursday. The stock has a market capitalization of $35.63 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.69 and a beta of 0.90. 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 has a 12 month low of $56.28 and a 12 month high of $82.32. The firm’s fifty day simple moving average is $78.05 and its 200 day simple moving average is $74.25.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. raised its holdings in Coca-Cola Europacific Partners by 89.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,156,056 shares of the company’s stock valued at $143,895,000 after acquiring an additional 1,017,278 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Coca-Cola Europacific Partners during the 1st quarter worth $47,839,000. Public Sector Pension Investment Board lifted its holdings in shares of Coca-Cola Europacific Partners by 800.5% during the fourth quarter. Public Sector Pension Investment Board now owns 663,146 shares of the company’s stock worth $44,258,000 after buying an additional 589,500 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Coca-Cola Europacific Partners by 1,735.9% in the fourth quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock valued at $30,462,000 after acquiring an additional 431,564 shares during the period. Finally, Fiduciary Management Inc. WI grew its stake in shares of Coca-Cola Europacific Partners by 25.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,785,320 shares of the company’s stock valued at $119,152,000 after acquiring an additional 365,820 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.