Coca-Cola Europacific Partners (NASDAQ:CCEP) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $107.7143.

A number of research analysts recently commented on CCEP shares. Evercore reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, February 18th. Bank of America reiterated a “neutral” rating and issued a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $114.00 target price on shares of Coca-Cola Europacific Partners in a research note on Thursday, January 8th. Barclays boosted their price target on shares of Coca-Cola Europacific Partners from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Finally, The Goldman Sachs Group increased their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP opened at $100.22 on Friday. The firm’s 50 day moving average price is $95.58 and its two-hundred day moving average price is $91.97. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a twelve month low of $80.70 and a twelve month high of $110.90.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp grew its stake in shares of Coca-Cola Europacific Partners by 10,480.7% in the 3rd quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after buying an additional 4,711,093 shares in the last quarter. Norges Bank bought a new position in Coca-Cola Europacific Partners during the second quarter valued at approximately $381,335,000. Invesco Ltd. lifted its stake in Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after acquiring an additional 3,751,430 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after acquiring an additional 3,392,680 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after acquiring an additional 2,518,085 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.