Coca-Cola Europacific Partners (NASDAQ:CCEP) Downgraded by Wall Street Zen to Hold

Coca-Cola Europacific Partners (NASDAQ:CCEP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on CCEP. Barclays upped their price target on shares of Coca-Cola Europacific Partners from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. UBS Group increased their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.13.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $96.96 on Friday. The company has a 50-day simple moving average of $90.98 and a two-hundred day simple moving average of $85.12. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $96.55. The firm has a market cap of $44.69 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 5.00 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

Institutional Trading of Coca-Cola Europacific Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CCEP. Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Europacific Partners by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 808 shares of the company’s stock worth $70,000 after acquiring an additional 156 shares in the last quarter. SCS Capital Management LLC bought a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $3,159,000. Axiom Investors LLC DE boosted its stake in Coca-Cola Europacific Partners by 48.5% in the 1st quarter. Axiom Investors LLC DE now owns 166,475 shares of the company’s stock worth $14,488,000 after purchasing an additional 54,350 shares in the last quarter. United Services Automobile Association purchased a new stake in Coca-Cola Europacific Partners during the 1st quarter valued at about $605,000. Finally, Goldman Sachs Group Inc. increased its stake in Coca-Cola Europacific Partners by 24.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock valued at $540,050,000 after purchasing an additional 1,214,493 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

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.