Coca-Cola Europacific Partners (NASDAQ:CCEP) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) saw an uptick in trading volume on Friday . 2,188,644 shares traded hands during mid-day trading, an increase of 55% from the previous session's volume of 1,414,443 shares.The stock last traded at $85.71 and had previously closed at $85.56.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They set a "market perform" rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $82.00 in a report on Wednesday, November 27th. Barclays raised their target price on shares of Coca-Cola Europacific Partners from $92.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Evercore ISI boosted their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Kepler Capital Markets lowered shares of Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and a consensus price target of $86.88.

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Coca-Cola Europacific Partners Price Performance

The company has a 50 day moving average of $82.00 and a 200 day moving average of $79.18. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The firm has a market cap of $38.68 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 4.89 and a beta of 0.91.

Institutional Trading of Coca-Cola Europacific Partners

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Coca-Cola Europacific Partners by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 480,085 shares of the company's stock worth $36,919,000 after acquiring an additional 18,300 shares during the period. California State Teachers Retirement System raised its stake in shares of Coca-Cola Europacific Partners by 10.1% in the 4th quarter. California State Teachers Retirement System now owns 179,046 shares of the company's stock valued at $13,753,000 after purchasing an additional 16,424 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at about $5,283,000. Siemens Fonds Invest GmbH boosted its position in shares of Coca-Cola Europacific Partners by 79.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock worth $1,246,000 after buying an additional 7,165 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of Coca-Cola Europacific Partners during the fourth quarter worth about $4,857,000. 31.35% of the stock is currently owned by institutional investors and hedge funds.

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.