Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 1-Year High – Here’s What Happened

Coca-Cola Europacific Partners (NASDAQ:CCEP)’s share price reached a new 52-week high on Friday. The stock traded as high as $114.57 and last traded at $114.1370, with a volume of 642,320 shares changing hands. The stock had previously closed at $110.94.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Coca-Cola Europacific Partners from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. began coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They issued an “underweight” rating and a $92.00 price objective on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $106.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $114.00 price objective (up from $110.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, September 16th. Finally, Wells Fargo & Company dropped their target price on shares of Coca-Cola Europacific Partners from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.11.

Coca-Cola Europacific Partners Stock Performance

The business has a 50 day moving average of $105.92 and a 200-day moving average of $100.49. The company has a quick ratio of 0.68, a current ratio of 0.89 and a debt-to-equity ratio of 1.20.

Institutional Trading of Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Provenance Wealth Advisors LLC boosted its stake in shares of Coca-Cola Europacific Partners by 17,913.6% during the third quarter. Provenance Wealth Advisors LLC now owns 3,963 shares of the company’s stock valued at $403,000 after acquiring an additional 3,941 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Coca-Cola Europacific Partners in the 3rd quarter valued at about $20,412,000. ProShare Advisors LLC raised its stake in Coca-Cola Europacific Partners by 1.4% in the 3rd quarter. ProShare Advisors LLC now owns 420,424 shares of the company’s stock valued at $42,761,000 after purchasing an additional 5,932 shares during the last quarter. Vise Technologies Inc. raised its stake in Coca-Cola Europacific Partners by 3.2% in the 3rd quarter. Vise Technologies Inc. now owns 3,005 shares of the company’s stock valued at $306,000 after purchasing an additional 94 shares during the last quarter. Finally, Aprio Wealth Management LLC lifted its holdings in Coca-Cola Europacific Partners by 40.4% in the 3rd quarter. Aprio Wealth Management LLC now owns 3,927 shares of the company’s stock valued at $399,000 after purchasing an additional 1,130 shares in the last quarter. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners plc (NASDAQ: CCEP) is a consumer beverage company and one of the world’s largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.