Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 1-Year High – Here’s Why

Coca-Cola Europacific Partners (NASDAQ:CCEP) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $114.11 and last traded at $114.0570, with a volume of 654,931 shares trading hands. The stock had previously closed at $110.29.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CCEP shares. UBS Group reaffirmed a “neutral” rating and issued a $107.00 target price (down from $109.00) on shares of Coca-Cola Europacific Partners in a research report on Monday, October 5th. Wells Fargo & Company reduced their price target on Coca-Cola Europacific Partners from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Barclays lowered their price target on Coca-Cola Europacific Partners from $119.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $92.00 price target on shares of Coca-Cola Europacific Partners in a research note on Friday, September 4th. Finally, ING Group downgraded Coca-Cola Europacific Partners to a “hold” rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.11.

Coca-Cola Europacific Partners Price Performance

The firm’s 50 day moving average is $105.53 and its 200-day moving average is $101.64. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20.

Institutional Trading of Coca-Cola Europacific Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi raised its holdings in Coca-Cola Europacific Partners by 13.4% in the 1st quarter. Amundi now owns 3,399,052 shares of the company’s stock worth $308,192,000 after acquiring an additional 401,683 shares during the period. Bank of America Corp DE lifted its position in Coca-Cola Europacific Partners by 0.6% during the 1st quarter. Bank of America Corp DE now owns 2,692,575 shares of the company’s stock worth $244,136,000 after acquiring an additional 17,036 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Coca-Cola Europacific Partners by 14.5% during the first quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company’s stock valued at $207,568,000 after acquiring an additional 289,080 shares during the period. Janus Henderson Group PLC bought a new stake in Coca-Cola Europacific Partners during the first quarter valued at about $97,058,000. Finally, Swiss National Bank grew its position in shares of Coca-Cola Europacific Partners by 26.9% in the first quarter. Swiss National Bank now owns 719,614 shares of the company’s stock valued at $65,247,000 after purchasing an additional 152,400 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners plc (NASDAQ: CCEP) is a consumer beverage company and one of the world’s largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.