Brokerages Set Coca-Cola Europacific Partners (NASDAQ:CCEP) Target Price at $92.40

Key Points

• Coca-Cola Europacific Partners has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month target price of $92.40.
• Recent analyst activity includes downgrades and target price adjustments, with Barclays lowering its target price to $103.00 and UBS increasing its goal to $105.00.
• Institutional investors have increased their holdings, with notable raises from TIAA Trust National Association and CWM LLC, contributing to their overall ownership of 31.35% of the stock.

Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $92.40.

A number of research analysts have issued reports on CCEP shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Barclays decreased their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Finally, UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCEP. Vanguard Group Inc. raised its stake in Coca-Cola Europacific Partners by 462.7% during the first quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock worth $862,167,000 after buying an additional 8,126,996 shares during the last quarter. Norges Bank bought a new position in Coca-Cola Europacific Partners during the second quarter worth $381,335,000. Nuveen LLC bought a new position in Coca-Cola Europacific Partners during the first quarter worth $162,036,000. Invesco Ltd. raised its stake in Coca-Cola Europacific Partners by 14.7% during the second quarter. Invesco Ltd. now owns 11,858,949 shares of the company's stock worth $1,099,562,000 after buying an additional 1,523,055 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Coca-Cola Europacific Partners by 253.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,948,024 shares of the company's stock worth $169,537,000 after buying an additional 1,397,394 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock traded down $1.41 during midday trading on Friday, hitting $89.11. 1,278,599 shares of the company were exchanged, compared to its average volume of 1,970,790. The firm's 50 day moving average price is $92.86 and its two-hundred day moving average price is $90.27. Coca-Cola Europacific Partners has a 52 week low of $73.40 and a 52 week high of $100.67. The firm has a market capitalization of $41.08 billion, a P/E ratio of 18.34, a PEG ratio of 2.63 and a beta of 0.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. It offers flavours, mixers, and energy drinks; soft drinks, waters, enhanced water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.