Evercore ISI Issues Positive Forecast for Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Price

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its price objective upped by analysts at Evercore ISI from $78.00 to $82.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 8.68% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. BNP Paribas downgraded Coca-Cola Europacific Partners from an “outperform” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research note on Tuesday, September 10th. Bank of America raised their target price on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Citigroup raised shares of Coca-Cola Europacific Partners to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays cut their price objective on shares of Coca-Cola Europacific Partners from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Coca-Cola Europacific Partners Price Performance

CCEP stock traded down $2.40 during midday trading on Wednesday, reaching $75.45. The company had a trading volume of 633,105 shares, compared to its average volume of 1,390,173. The stock has a 50 day moving average price of $78.78 and a 200-day moving average price of $75.57. Coca-Cola Europacific Partners has a 1-year low of $59.31 and a 1-year high of $82.32. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Large investors have recently made changes to their positions in the business. Samlyn Capital LLC raised its position in Coca-Cola Europacific Partners by 23.2% during the second quarter. Samlyn Capital LLC now owns 1,854,744 shares of the company’s stock valued at $135,155,000 after purchasing an additional 349,466 shares during the period. Millennium Management LLC lifted its position in Coca-Cola Europacific Partners by 7.6% during the 2nd quarter. Millennium Management LLC now owns 1,636,023 shares of the company’s stock worth $119,217,000 after acquiring an additional 115,604 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Coca-Cola Europacific Partners by 144.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,204,721 shares of the company’s stock valued at $87,788,000 after buying an additional 711,121 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Coca-Cola Europacific Partners by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 887,013 shares of the company’s stock valued at $64,637,000 after buying an additional 29,181 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Coca-Cola Europacific Partners in the 1st quarter valued at about $47,839,000. 31.35% of the stock is currently owned by hedge funds and other 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.