Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 1-Year High – Time to Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $88.39 and last traded at $87.20, with a volume of 2375979 shares traded. The stock had previously closed at $87.29.

Analyst Ratings Changes

A number of equities analysts have recently commented on CCEP shares. Evercore ISI raised their price objective on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. downgraded shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. Morgan Stanley raised 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 Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price objective for the company. Finally, UBS Group boosted 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 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. According to data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Coca-Cola Europacific Partners Stock Down 0.1 %

The stock has a 50-day moving average of $78.48 and a two-hundred day moving average of $78.27. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

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

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.