Coca-Cola Europacific Partners (NASDAQ:CCEP) Upgraded to Strong-Buy at Citigroup

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) was upgraded by stock analysts at Citigroup to a "strong-buy" rating in a note issued to investors on Thursday, Zacks.com reports.

Several other brokerages have also issued reports on CCEP. Bank of America upped their target price on Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. BNP Paribas cut Coca-Cola Europacific Partners from an "outperform" rating to a "neutral" rating and set a $81.00 price objective on the stock. in a research note on Tuesday, September 10th. Finally, Barclays boosted their target price on Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.78.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock traded up $1.24 during mid-day trading on Thursday, hitting $78.01. 1,919,821 shares of the company traded hands, compared to its average volume of 1,423,335. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.63 and a current ratio of 0.85. Coca-Cola Europacific Partners has a one year low of $56.28 and a one year high of $82.32. The stock has a market cap of $35.63 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 3.69 and a beta of 0.90. The stock has a fifty day moving average price of $78.05 and a 200-day moving average price of $74.27.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several hedge funds and other institutional investors have recently modified their holdings of CCEP. Voisard Asset Management Group Inc. bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth $33,000. Crewe Advisors LLC purchased a new position in Coca-Cola Europacific Partners during the 1st quarter valued at about $36,000. New Covenant Trust Company N.A. bought a new stake in Coca-Cola Europacific Partners during the first quarter worth about $36,000. New Millennium Group LLC purchased a new stake in Coca-Cola Europacific Partners in the second quarter worth about $37,000. Finally, Mather Group LLC. grew its holdings in Coca-Cola Europacific Partners by 142.0% in the second quarter. Mather Group LLC. now owns 668 shares of the company's stock worth $47,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

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.