Coca-Cola Europacific Partners (NASDAQ:CCEP) Given New $103.00 Price Target at UBS Group

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its target price dropped by UBS Group from $105.00 to $103.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 18.05% from the stock’s previous close.

Several other equities analysts have also commented on CCEP. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Coca-Cola Europacific Partners Trading Up 2.1%

Shares of NASDAQ:CCEP traded up $1.82 during trading on Thursday, reaching $87.25. 454,904 shares of the company traded hands, compared to its average volume of 1,555,133. Coca-Cola Europacific Partners has a 52 week low of $73.40 and a 52 week high of $100.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The company’s 50 day moving average is $90.42 and its two-hundred day moving average is $91.46.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Several large investors have recently bought and sold shares of CCEP. Truist Financial Corp increased its stake in shares of Coca-Cola Europacific Partners by 10,480.7% in the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after buying an additional 4,711,093 shares during the period. Norges Bank acquired a new position in Coca-Cola Europacific Partners in the 2nd quarter valued at approximately $381,335,000. Invesco Ltd. lifted its holdings in shares of Coca-Cola Europacific Partners by 31.6% during the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after purchasing an additional 3,751,430 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Coca-Cola Europacific Partners by 138.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,835,583 shares of the company’s stock worth $527,595,000 after purchasing an additional 3,392,680 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Coca-Cola Europacific Partners by 12,873.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after buying an additional 2,518,085 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.