Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target for Coca-Cola Europacific Partners to $124 from $112 and maintained an “overweight” rating, implying about 5.8% upside from the current share price.
• Analyst sentiment is generally positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $110.33, though ratings range from strong buy to sell.
• CCEP shares rose 1.2% to $117.19 on Thursday, near their 52-week high of $119.09.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) had its target price hoisted by research analysts at Barclays from $112.00 to $124.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 5.81% from the stock's current price.

CCEP has been the subject of several other reports. JPMorgan Chase & Co. began coverage on Coca-Cola Europacific Partners in a report on Friday, September 4th. They set an "underweight" rating and a $92.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $114.00 price target (up from $110.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, September 16th. Sanford C. Bernstein restated a "market perform" rating and issued a $110.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, ING Group lowered shares of Coca-Cola Europacific Partners to a "hold" rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.33.

Coca-Cola Europacific Partners Stock Up 1.2%

Shares of CCEP traded up $1.35 during trading hours on Thursday, hitting $117.19. 1,226,700 shares of the stock traded hands, compared to its average volume of 1,848,823. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $119.09. The business has a fifty day moving average of $106.35 and a 200-day moving average of $100.99.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCEP. Amundi grew its stake in shares of Coca-Cola Europacific Partners by 13.4% during the 1st quarter. Amundi now owns 3,399,052 shares of the company's stock worth $308,192,000 after acquiring an additional 401,683 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Coca-Cola Europacific Partners by 0.6% in the first quarter. Bank of America Corp DE now owns 2,692,575 shares of the company's stock worth $244,136,000 after purchasing an additional 17,036 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Coca-Cola Europacific Partners by 14.5% in the first quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company's stock worth $207,568,000 after purchasing an additional 289,080 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth $97,058,000. Finally, Swiss National Bank boosted its holdings in Coca-Cola Europacific Partners by 26.9% during the first quarter. Swiss National Bank now owns 719,614 shares of the company's stock worth $65,247,000 after purchasing an additional 152,400 shares during the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

About Coca-Cola Europacific Partners

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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.

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