UBS Group Issues Pessimistic Forecast for Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Price

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its price target decreased by UBS Group from $105.00 to $103.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 16.07% from the stock’s current price.

Several other research firms also recently issued reports on CCEP. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Coca-Cola Europacific Partners Trading Up 0.7%

Shares of NASDAQ:CCEP opened at $88.74 on Thursday. The stock has a 50-day simple moving average of $90.40 and a 200-day simple moving average of $91.40. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Coca-Cola Europacific Partners by 31.6% in the 3rd quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock worth $1,411,334,000 after buying an additional 3,751,430 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Coca-Cola Europacific Partners by 2.6% during the third quarter. Vanguard Group Inc. now owns 10,960,110 shares of the company’s stock worth $994,598,000 after acquiring an additional 278,083 shares during the last quarter. Boston Partners lifted its stake in shares of Coca-Cola Europacific Partners by 2.6% in the third quarter. Boston Partners now owns 6,266,512 shares of the company’s stock worth $566,051,000 after acquiring an additional 156,613 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in 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 valued at $527,595,000 after purchasing an additional 3,392,680 shares during the last quarter. Finally, State Street Corp grew its stake in Coca-Cola Europacific Partners by 0.7% during the 3rd quarter. State Street Corp now owns 4,760,094 shares of the company’s stock valued at $430,360,000 after purchasing an additional 31,054 shares in the last quarter. 31.35% of the stock is owned by institutional investors and hedge funds.

About Coca-Cola Europacific Partners

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.