Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Gets Price Target Boost from Barclays

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its target price upped by stock analysts at Barclays from $112.00 to $124.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 6.78% from the stock’s previous close.

A number of other research firms also recently commented on CCEP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $114.00 target price (up from $110.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, September 16th. JPMorgan Chase & Co. began coverage on Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an “underweight” rating and a $92.00 price target on the stock. ING Group downgraded shares of Coca-Cola Europacific Partners to a “hold” rating in a report on Friday, September 18th. Sanford C. Bernstein reiterated a “market perform” rating and set a $110.00 target price on shares of Coca-Cola Europacific Partners in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $110.33.

Coca-Cola Europacific Partners Stock Down 1.0%

CCEP stock traded down $1.16 during mid-day trading on Thursday, hitting $116.13. 2,081,158 shares of the company were exchanged, compared to its average volume of 1,748,332. The firm has a fifty day simple moving average of $106.69 and a 200 day simple moving average of $101.26. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.68. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $119.09.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Several large investors have recently added to or reduced their stakes in the stock. Vise Technologies Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 3.2% during the third quarter. Vise Technologies Inc. now owns 3,005 shares of the company’s stock valued at $306,000 after acquiring an additional 94 shares during the period. Keybank National Association OH boosted its position in shares of Coca-Cola Europacific Partners by 1.5% during the third quarter. Keybank National Association OH now owns 6,381 shares of the company’s stock worth $649,000 after buying an additional 96 shares during the period. Parallel Advisors LLC boosted its position in shares of Coca-Cola Europacific Partners by 3.7% during the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company’s stock worth $303,000 after buying an additional 119 shares during the period. Raiffeisen Bank International AG grew its holdings in Coca-Cola Europacific Partners by 4.0% in the 2nd quarter. Raiffeisen Bank International AG now owns 4,806 shares of the company’s stock worth $487,000 after buying an additional 187 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in Coca-Cola Europacific Partners by 0.7% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 27,427 shares of the company’s stock worth $2,790,000 after buying an additional 190 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners (CCEP) is a beverage company that manufactures, sells and distributes products under The Coca-Cola Company’s brands. Its portfolio includes Coca-Cola, Fanta and Sprite, as well as water, sports drinks, energy drinks, juices and ready-to-drink tea and coffee.

CCEP serves customers across markets in Western Europe and the Asia-Pacific region, including Australia, New Zealand and parts of Southeast Asia. The company was formed in 2016 through the combination of Coca-Cola bottling operations in Europe and expanded into the Asia-Pacific region with its 2021 acquisition of Coca-Cola Amatil.

Damian Gammell is CCEP’s chief executive officer.