Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 12-Month High After Analyst Upgrade

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $82.00 to $90.00. Evercore ISI currently has an outperform rating on the stock. Coca-Cola Europacific Partners traded as high as $86.98 and last traded at $86.74, with a volume of 3021005 shares traded. The stock had previously closed at $84.90.

Several other research firms have also issued reports on CCEP. UBS Group increased their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Morgan Stanley raised Coca-Cola Europacific Partners from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Sanford C. Bernstein assumed coverage on Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They set a "market perform" rating and a $82.00 target price on the stock. Barclays reduced their target price on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded 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 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.com, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several large investors have recently bought and sold shares of CCEP. SBI Securities Co. Ltd. bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at about $27,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its position in Coca-Cola Europacific Partners by 85.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company's stock valued at $33,000 after purchasing an additional 197 shares during the last quarter. Summit Securities Group LLC bought a new position in Coca-Cola Europacific Partners in the fourth quarter valued at about $34,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Coca-Cola Europacific Partners by 38.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company's stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Up 0.9 %

The firm has a 50-day simple moving average of $78.12 and a 200 day simple moving average of $78.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.63.

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.