Coca-Cola Europacific Partners (NASDAQ:CCEP) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CCEP shares. Kepler Capital Markets downgraded shares of Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a research note on Tuesday, February 25th. Morgan Stanley upgraded Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Barclays boosted their price objective on Coca-Cola Europacific Partners from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Evercore ISI increased their price objective 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, UBS Group lifted their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola Europacific Partners currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Coca-Cola Europacific Partners Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 0.81. The company’s 50-day moving average price is $83.77 and its 200 day moving average price is $79.55. The stock has a market capitalization of $38.69 billion, a PE ratio of 17.27, a PEG ratio of 4.89 and a beta of 0.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in Coca-Cola Europacific Partners by 395.3% in the first quarter. Versant Capital Management Inc now owns 1,486 shares of the company’s stock worth $129,000 after purchasing an additional 1,186 shares during the period. Wellington Management Group LLP grew its position in shares of Coca-Cola Europacific Partners by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 480,085 shares of the company’s stock worth $36,919,000 after buying an additional 18,300 shares during the period. California State Teachers Retirement System lifted its position in Coca-Cola Europacific Partners by 10.1% during the 4th quarter. California State Teachers Retirement System now owns 179,046 shares of the company’s stock valued at $13,753,000 after acquiring an additional 16,424 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Coca-Cola Europacific Partners during the fourth quarter worth about $5,283,000. Finally, Siemens Fonds Invest GmbH grew its holdings in Coca-Cola Europacific Partners by 79.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company’s stock worth $1,246,000 after purchasing an additional 7,165 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

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.