Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 1-Year High - Here's What Happened

Key Points

• Coca-Cola Europacific Partners shares reached a new 52-week high, trading as high as $114.57 and gaining 2.9% from the previous close of $110.94.
• Analyst sentiment remains positive but mixed: CCEP has a consensus “Moderate Buy” rating and an average price target of $107.11, below the current trading level.
• Institutional ownership stands at 31.35%, with major investors including Amundi, Bessemer Group, Bank of America, Janus Henderson and the Swiss National Bank increasing or initiating positions.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday. The company traded as high as $114.57 and last traded at $114.1370, with a volume of 642,320 shares. The stock had previously closed at $110.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of 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. Deutsche Bank Aktiengesellschaft reiterated 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. ING Group cut shares of Coca-Cola Europacific Partners to a "hold" rating in a research note on Friday, September 18th. Sanford C. Bernstein reissued a "market perform" rating and set a $106.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Coca-Cola Europacific Partners from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners has an average rating of "Moderate Buy" and a consensus target price of $107.11.

Coca-Cola Europacific Partners Stock Up 2.9%

The company has a 50 day simple moving average of $105.92 and a 200 day simple moving average of $100.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.68 and a current ratio of 0.89.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Hedge funds have recently modified their holdings of the stock. Amundi lifted its position 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 valued at $308,192,000 after acquiring an additional 401,683 shares during the period. Bank of America Corp DE grew its holdings in shares of Coca-Cola Europacific Partners by 0.6% in the 1st quarter. Bank of America Corp DE now owns 2,692,575 shares of the company's stock worth $244,136,000 after acquiring an additional 17,036 shares during the period. Bessemer Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 14.5% in the 1st quarter. Bessemer Group Inc. now owns 2,289,254 shares of the company's stock worth $207,568,000 after acquiring an additional 289,080 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter worth approximately $97,058,000. Finally, Swiss National Bank increased its stake in Coca-Cola Europacific Partners by 26.9% in the 1st quarter. Swiss National Bank now owns 719,614 shares of the company's stock valued at $65,247,000 after purchasing an additional 152,400 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

About Coca-Cola Europacific Partners

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

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.

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.