Coca-Cola Europacific Partners (NASDAQ:CCEP) Sets New 12-Month High – Should You Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)’s share price reached a new 52-week high on Tuesday . The company traded as high as $88.39 and last traded at $87.20, with a volume of 2375979 shares traded. The stock had previously closed at $87.29.

Wall Street Analyst Weigh In

CCEP has been the topic of a number of recent research reports. Barclays dropped their target price on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Sanford C. Bernstein initiated coverage on shares of Coca-Cola Europacific Partners in a research note on Tuesday, December 3rd. They issued a “market perform” rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. cut shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $82.00 in a research note on Wednesday, November 27th. UBS Group boosted their price target on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

Coca-Cola Europacific Partners Stock Performance

The stock’s fifty day simple moving average is $78.90 and its 200-day simple moving average is $78.42. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $39.70 billion, a PE ratio of 17.72, a PEG ratio of 4.89 and a beta of 0.91.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several hedge funds have recently bought and sold shares of CCEP. Invesco Ltd. boosted its position in Coca-Cola Europacific Partners by 26.3% during the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock worth $777,312,000 after purchasing an additional 2,105,019 shares in the last quarter. FMR LLC raised its stake in shares of Coca-Cola Europacific Partners by 3.3% during the 4th quarter. FMR LLC now owns 7,234,642 shares of the company’s stock worth $555,693,000 after buying an additional 229,679 shares during the last quarter. Amundi boosted its position in shares of Coca-Cola Europacific Partners by 2.9% in the 4th quarter. Amundi now owns 3,078,851 shares of the company’s stock worth $233,716,000 after buying an additional 87,675 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Coca-Cola Europacific Partners by 43.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock valued at $221,835,000 after acquiring an additional 872,060 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Coca-Cola Europacific Partners by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,757,976 shares of the company’s stock valued at $217,191,000 after acquiring an additional 32,776 shares in the last quarter. 31.35% of the stock is owned by hedge funds and other institutional investors.

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.