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

Coca-Cola Europacific Partners (NASDAQ:CCEP) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $92.40.

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

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $88.76 on Friday. The company has a market cap of $40.91 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The stock has a 50 day simple moving average of $93.10 and a 200-day simple moving average of $90.25. Coca-Cola Europacific Partners has a 12-month low of $73.40 and a 12-month high of $100.67. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Coca-Cola Europacific Partners by 14.7% in the 2nd quarter. Invesco Ltd. now owns 11,858,949 shares of the company’s stock worth $1,099,562,000 after acquiring an additional 1,523,055 shares during the period. Vanguard Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 10,682,027 shares of the company’s stock worth $984,804,000 after acquiring an additional 798,427 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company’s stock worth $540,050,000 after acquiring an additional 1,214,493 shares during the period. State Street Corp grew its holdings in Coca-Cola Europacific Partners by 5.3% during the 2nd quarter. State Street Corp now owns 4,729,040 shares of the company’s stock valued at $438,477,000 after buying an additional 239,400 shares during the last quarter. Finally, Norges Bank acquired a new stake in Coca-Cola Europacific Partners during the 2nd quarter valued at $381,335,000. Institutional investors and hedge funds own 31.35% of the company’s stock.

Coca-Cola Europacific Partners Company Profile

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.