Coca-Cola Europacific Partners (NASDAQ:CCEP) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw unusually-strong trading volume on Friday . Approximately 2,188,644 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 1,414,443 shares.The stock last traded at $85.71 and had previously closed at $85.56.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCEP shares. Barclays boosted their price target on Coca-Cola Europacific Partners from $92.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $82.00 in a research note on Wednesday, November 27th. UBS Group boosted their price target on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Evercore ISI boosted their price target on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Kepler Capital Markets lowered Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.88.

Coca-Cola Europacific Partners Stock Up 0.2 %

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 $39.53 billion, a P/E ratio of 17.68, a PEG ratio of 4.89 and a beta of 0.91. The firm has a 50-day moving average price of $81.57 and a two-hundred day moving average price of $79.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCEP. Oppenheimer & Co. Inc. lifted its position in Coca-Cola Europacific Partners by 15.5% in the third quarter. Oppenheimer & Co. Inc. now owns 4,317 shares of the company’s stock worth $340,000 after purchasing an additional 579 shares during the period. Swiss National Bank lifted its position in Coca-Cola Europacific Partners by 0.5% in the third quarter. Swiss National Bank now owns 619,014 shares of the company’s stock worth $48,747,000 after purchasing an additional 3,200 shares during the period. Pathstone Holdings LLC lifted its position in Coca-Cola Europacific Partners by 1.6% in the third quarter. Pathstone Holdings LLC now owns 47,473 shares of the company’s stock worth $3,738,000 after purchasing an additional 756 shares during the period. PNC Financial Services Group Inc. lifted its position in Coca-Cola Europacific Partners by 6.0% in the third quarter. PNC Financial Services Group Inc. now owns 14,394 shares of the company’s stock worth $1,134,000 after purchasing an additional 815 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Coca-Cola Europacific Partners during the third quarter valued at $482,000. 31.35% of the stock is owned by institutional investors.

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.