Coca-Cola Europacific Partners (NASDAQ:CCEP) Hits New 52-Week High – Here’s Why

Coca-Cola Europacific Partners (NASDAQ:CCEP)’s stock price hit a new 52-week high on Monday . The stock traded as high as $107.43 and last traded at $107.4020, with a volume of 97329 shares trading hands. The stock had previously closed at $105.70.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCEP shares. Bank of America reiterated a “neutral” rating and set a $96.00 target price (down from $102.00) on shares of Coca-Cola Europacific Partners in a research note on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $114.00 target price on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. The Goldman Sachs Group upped their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Citigroup reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of “Moderate Buy” and a consensus target price of $107.71.

Coca-Cola Europacific Partners Stock Up 0.5%

The business has a 50-day simple moving average of $93.32 and a two-hundred day simple moving average of $91.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80.

Institutional Trading of Coca-Cola Europacific Partners

Several hedge funds have recently made changes to their positions in CCEP. Mather Group LLC. acquired a new stake in shares of Coca-Cola Europacific Partners in the 3rd quarter valued at approximately $31,000. First Command Advisory Services Inc. increased its holdings in Coca-Cola Europacific Partners by 1,800.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 361 shares of the company’s stock valued at $33,000 after acquiring an additional 342 shares in the last quarter. First Horizon Advisors Inc. raised its position in Coca-Cola Europacific Partners by 61.3% during the second quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $34,000 after acquiring an additional 138 shares during the last quarter. Quarry LP grew its position in shares of Coca-Cola Europacific Partners by 59.1% in the fourth quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after purchasing an additional 146 shares during the last quarter. Finally, Westerkirk Capital Inc. purchased a new position in shares of Coca-Cola Europacific Partners during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

About Coca-Cola Europacific Partners

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.