Coca-Cola Europacific Partners (NASDAQ:CCEP) Reaches New 1-Year High – Still a Buy?

Shares of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) reached a new 52-week high on Thursday . The company traded as high as $91.09 and last traded at $90.37, with a volume of 831863 shares. The stock had previously closed at $87.41.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCEP. Kepler Capital Markets cut shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Barclays raised their price objective on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. UBS Group boosted their target price on Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Evercore ISI upped their target price on Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley raised Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola Europacific Partners has an average rating of “Moderate Buy” and an average price target of $87.00.

Coca-Cola Europacific Partners Stock Performance

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 stock has a fifty day moving average price of $83.36 and a 200-day moving average price of $79.47. The firm has a market cap of $41.75 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 4.89 and a beta of 0.91.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter valued at about $27,000. Optiver Holding B.V. purchased a new stake in Coca-Cola Europacific Partners in the 4th quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in Coca-Cola Europacific Partners by 85.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 428 shares of the company’s stock worth $33,000 after purchasing an additional 197 shares during the period. Summit Securities Group LLC purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter valued at approximately $52,000. 31.35% of the stock is owned by institutional investors and hedge funds.

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.