Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 12-Month High – Still a Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) hit a new 52-week high on Thursday . The company traded as high as $82.68 and last traded at $81.92, with a volume of 7161 shares changing hands. The stock had previously closed at $81.39.

Analyst Upgrades and Downgrades

CCEP has been the topic of several recent research reports. Morgan Stanley upgraded shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $82.00 in a report on Wednesday, November 27th. Evercore ISI lifted their price target on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays reduced their price objective 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 lifted their target price on shares of 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Coca-Cola Europacific Partners Stock Up 1.2 %

The business’s 50-day moving average price is $77.31 and its 200-day moving average price is $77.55. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.12.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Institutional investors have recently modified their holdings of the stock. World Investment Advisors LLC purchased a new position in Coca-Cola Europacific Partners in the third quarter valued at about $6,975,000. Transform Wealth LLC increased its holdings in 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 last quarter. Vontobel Holding Ltd. raised its position in Coca-Cola Europacific Partners by 2,575.0% during the third quarter. Vontobel Holding Ltd. now owns 256,029 shares of the company’s stock valued at $20,244,000 after acquiring an additional 246,458 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Coca-Cola Europacific Partners by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,048,176 shares of the company’s stock valued at $160,138,000 after purchasing an additional 58,247 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of Coca-Cola Europacific Partners by 617.2% in the 3rd quarter. Quantbot Technologies LP now owns 44,660 shares of the company’s stock valued at $3,517,000 after purchasing an additional 38,433 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company’s stock.

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.