Coca-Cola Europacific Partners (NASDAQ:CCEP) Lifted to Strong-Buy at Citigroup

Citigroup upgraded shares of Coca-Cola Europacific Partners (NASDAQ:CCEP) to a strong-buy rating in a report issued on Thursday, Zacks.com reports.

Several other equities analysts have also recently commented on the stock. BNP Paribas cut shares of Coca-Cola Europacific Partners from an outperform rating to a neutral rating and set a $81.00 target price on the stock. in a research report on Tuesday, September 10th. Barclays increased their price target on Coca-Cola Europacific Partners from $82.00 to $85.00 and gave the company an overweight rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola Europacific Partners from $78.00 to $90.00 and gave the company a buy rating in a research note on Monday, September 9th. Finally, Bank of America boosted their price target on shares of Coca-Cola Europacific Partners from $80.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of Moderate Buy and a consensus target price of $79.78.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $78.01 on Thursday. The firm has a 50-day moving average of $78.05 and a 200-day moving average of $74.27. The company has a market cap of $35.63 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.63. Coca-Cola Europacific Partners has a one year low of $56.28 and a one year high of $82.32.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its holdings in Coca-Cola Europacific Partners by 28.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,818 shares of the company’s stock worth $255,000 after buying an additional 855 shares during the period. KBC Group NV grew its position in shares of Coca-Cola Europacific Partners by 26.6% in the fourth quarter. KBC Group NV now owns 38,130 shares of the company’s stock valued at $2,545,000 after purchasing an additional 8,015 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Coca-Cola Europacific Partners by 1,735.9% during the 4th quarter. First Trust Advisors LP now owns 456,425 shares of the company’s stock valued at $30,462,000 after purchasing an additional 431,564 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Coca-Cola Europacific Partners by 134.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,375 shares of the company’s stock worth $2,094,000 after purchasing an additional 17,965 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $4,377,000. Hedge funds and other institutional investors 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.