Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Gap Down - Time to Sell?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $85.82, but opened at $83.50. Coca-Cola Europacific Partners shares last traded at $83.69, with a volume of 839,767 shares changing hands.

Analyst Ratings Changes

CCEP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $85.00 to $82.00 in a research note on Wednesday, November 27th. Kepler Capital Markets downgraded Coca-Cola Europacific Partners from a "hold" rating to a "reduce" rating in a research note on Tuesday, February 25th. Barclays upped their target price on Coca-Cola Europacific Partners from $92.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday. Evercore ISI boosted their price target on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, UBS Group lifted their price objective on 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and an average target price of $86.67.

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Coca-Cola Europacific Partners Stock Down 2.4 %

The firm has a fifty day simple moving average of $80.20 and a 200 day simple moving average of $78.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The company has a market cap of $37.98 billion, a PE ratio of 16.95, a PEG ratio of 4.89 and a beta of 0.91.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several large investors 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 in the third quarter worth $6,975,000. Transform Wealth LLC boosted its holdings in Coca-Cola Europacific Partners by 7.7% during 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 in the last quarter. Geode Capital Management LLC grew its position in Coca-Cola Europacific Partners by 2.9% in the third 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 increased its holdings in shares of Coca-Cola Europacific Partners by 617.2% in the third quarter. Quantbot Technologies LP now owns 44,660 shares of the company's stock valued at $3,517,000 after buying an additional 38,433 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Coca-Cola Europacific Partners by 28.7% in the fourth quarter. Vontobel Holding Ltd. now owns 329,422 shares of the company's stock valued at $24,651,000 after buying an additional 73,393 shares in 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.