Coca-Cola Europacific Partners (NASDAQ:CCEP) Reaches New 52-Week High on Analyst Upgrade

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s share 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 traded. The stock had previously closed at $84.90.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $82.00 in a research report on Wednesday, November 27th. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Sanford C. Bernstein started coverage on shares of 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. Barclays cut 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 research note on Friday, January 17th. Finally, UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CCEP. Invesco Ltd. increased its holdings in shares of Coca-Cola Europacific Partners by 26.3% in the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after purchasing an additional 2,105,019 shares in the last quarter. FMR LLC increased its holdings in shares of Coca-Cola Europacific Partners by 3.3% in the fourth quarter. FMR LLC now owns 7,234,642 shares of the company’s stock valued at $555,693,000 after purchasing an additional 229,679 shares in the last quarter. Amundi increased its holdings 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 purchasing an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after purchasing an additional 872,060 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Coca-Cola Europacific Partners by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after purchasing an additional 32,776 shares in the last quarter. Institutional investors own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average is $77.97 and its two-hundred day moving average is $77.94.

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.