Wells Fargo & Company Issues Positive Forecast for Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Price

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its price target boosted by research analysts at Wells Fargo & Company from $115.00 to $120.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 7.57% from the company’s previous close.

A number of other analysts have also weighed in on CCEP. JPMorgan Chase & Co. assumed coverage on shares of Coca-Cola Europacific Partners in a report on Friday, September 4th. They issued an “underweight” rating and a $92.00 price target for the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $106.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Weiss Ratings upgraded Coca-Cola Europacific Partners from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $114.00 price objective (up from $110.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, September 16th. Finally, Barclays lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and an average price target of $107.67.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $111.56 on Wednesday. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $116.01. The company has a 50-day moving average of $106.23 and a two-hundred day moving average of $100.86. 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 Investors Weigh In On Coca-Cola Europacific Partners

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

Trending Headlines about Coca-Cola Europacific Partners

Here are the key news stories impacting Coca-Cola Europacific Partners this week:

• Positive Sentiment: CCEP’s third-quarter revenue exceeded forecasts as volumes rose, with growth reported across key markets. The sales beat and volume gains are positive signs for demand. Coca-Cola Europacific Partners beats Q3 revenue forecasts, guidance unchanged
• Positive Sentiment: The company declared a dividend of €1.42 per share, payable December 3 to shareholders of record November 20. CCEP Reports Strong Third-Quarter Growth Across Key Markets
• Neutral Sentiment: CCEP kept its full-year outlook unchanged. This provides continuity after the quarterly results, but does not represent an upgrade to expectations. Coca-Cola Europacific Partners exceeds Q3 revenue expectations as volumes rise, maintains full-year guidance
• Negative Sentiment: Management flagged cost pressures. If they persist, they could weigh on margins, even though the company has maintained its full-year guidance. Bottler Coca-Cola Europacific Partners flags cost pressures, keeps outlook

About Coca-Cola Europacific Partners

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.