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

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) hit a new 52-week high during trading on Thursday . The company traded as high as $82.68 and last traded at $81.92, with a volume of 7161 shares. The stock had previously closed at $81.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore ISI upped their target price on Coca-Cola Europacific Partners from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $82.00 in a research note on Wednesday, November 27th. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. UBS Group upped 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, Barclays reduced their price objective on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola Europacific Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Coca-Cola Europacific Partners Stock Performance

The company’s 50-day simple moving average is $77.39 and its 200 day simple moving average is $77.59. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth approximately $27,000. Optiver Holding B.V. acquired a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB grew its stake in Coca-Cola Europacific Partners by 85.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock valued at $33,000 after buying an additional 197 shares during the last quarter. Summit Securities Group LLC bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Coca-Cola Europacific Partners by 38.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the company’s stock worth $40,000 after acquiring an additional 139 shares during the last quarter. 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.