Coca-Cola Europacific Partners (NASDAQ:CCEP) Reaches New 52-Week High - Here's Why

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report)'s stock price reached 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 traded. The stock had previously closed at $81.39.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a "market perform" rating and a $82.00 price target for the company. Barclays lowered their target price 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. Morgan Stanley raised Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. UBS Group lifted their price objective on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. downgraded Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $82.00 in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" and an average price target of $84.11.

Coca-Cola Europacific Partners Trading Up 2.6 %

The firm has a fifty day simple moving average of $77.54 and a 200-day simple moving average of $77.72. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new position in shares of Coca-Cola Europacific Partners during the third quarter worth about $6,975,000. Transform Wealth LLC lifted its holdings in Coca-Cola Europacific Partners by 7.7% during the 4th 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. Geode Capital Management LLC lifted its holdings in 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 worth $160,138,000 after buying an additional 58,247 shares during the last quarter. Quantbot Technologies LP grew its position 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 worth $3,517,000 after acquiring an additional 38,433 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Coca-Cola Europacific Partners by 7.9% in the 3rd quarter. National Pension Service now owns 449,656 shares of the company's stock valued at $35,410,000 after acquiring an additional 33,082 shares during the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Company Profile

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.