Coca-Cola Europacific Partners (NASDAQ:CCEP) Price Target Raised to $114.00

Key Points

• Barclays raised its price target on Coca-Cola Europacific Partners to $114 from $108 and kept an overweight rating, implying about 7.4% upside from the prior close.
• Other analysts have also been constructive: UBS lifted its target to $109, Wells Fargo increased its target to $115, and the stock currently carries a consensus rating of Moderate Buy with an average target price of $107.88.
• CCEP was trading up 0.9% at $106.14, with shares sitting near their 52-week high of $110.90 and above both the 50-day and 200-day moving averages.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) had its price objective boosted by research analysts at Barclays from $108.00 to $114.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 7.41% from the stock's previous close.

Several other research firms have also commented on CCEP. UBS Group raised their target price on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut shares of Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Coca-Cola Europacific Partners currently has a consensus rating of "Moderate Buy" and an average target price of $107.88.

Coca-Cola Europacific Partners Trading Up 0.9%

NASDAQ CCEP opened at $106.14 on Tuesday. The stock has a 50-day simple moving average of $98.21 and a two-hundred day simple moving average of $96.61. Coca-Cola Europacific Partners has a fifty-two week low of $84.65 and a fifty-two week high of $110.90. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Coca-Cola Europacific Partners by 10.5% during the first quarter. AQR Capital Management LLC now owns 7,131 shares of the company's stock worth $621,000 after buying an additional 677 shares during the period. Geneos Wealth Management Inc. increased its stake in Coca-Cola Europacific Partners by 23.9% during the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company's stock worth $70,000 after purchasing an additional 156 shares during the period. Marshall Wace LLP acquired a new stake in shares of Coca-Cola Europacific Partners during the second quarter worth about $653,000. Jump Financial LLC lifted its position in shares of Coca-Cola Europacific Partners by 18.8% during the second quarter. Jump Financial LLC now owns 25,666 shares of the company's stock worth $2,380,000 after purchasing an additional 4,059 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Coca-Cola Europacific Partners in the second quarter valued at approximately $202,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

About Coca-Cola Europacific Partners

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.