Coca-Cola Europacific Partners (NASDAQ:CCEP) Reaches New 12-Month High - What's Next?

Key Points

• Coca-Cola Europacific Partners reached a new 52-week high, trading as high as $114.11 and up 3.6% from its previous close of $110.29.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $107.11, although several firms recently adjusted their targets.
• Institutional ownership stands at 31.35%, with several investment managers—including Robeco and Assenagon—significantly increasing their positions during the third quarter.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $114.11 and last traded at $114.0570, with a volume of 654,931 shares traded. The stock had previously closed at $110.29.

Analyst Ratings Changes

CCEP has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $114.00 target price (up from $110.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, September 16th. Barclays cut their price target on Coca-Cola Europacific Partners from $119.00 to $112.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. UBS Group reissued a "neutral" rating and set a $107.00 price target (down from $109.00) on shares of Coca-Cola Europacific Partners in a report on Monday, October 5th. Finally, Wells Fargo & Company decreased their price target on Coca-Cola Europacific Partners from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, October 5th. 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $107.11.

Coca-Cola Europacific Partners Stock Up 3.6%

The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. The business's fifty day simple moving average is $105.33 and its 200-day simple moving average is $101.42.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several institutional investors have recently bought and sold shares of CCEP. Root Financial Partners LLC bought a new stake in Coca-Cola Europacific Partners in the 3rd quarter valued at $30,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Coca-Cola Europacific Partners during the 3rd quarter valued at about $2,582,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Coca-Cola Europacific Partners by 604.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 111,249 shares of the company's stock valued at $11,315,000 after purchasing an additional 95,462 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Coca-Cola Europacific Partners by 10.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 161,034 shares of the company's stock valued at $16,243,000 after purchasing an additional 15,740 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Coca-Cola Europacific Partners by 157.1% during the third quarter. Assenagon Asset Management S.A. now owns 72,007 shares of the company's stock valued at $7,324,000 after purchasing an additional 44,000 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

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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