JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock

Coca-Cola Europacific Partners (NASDAQ:CCEP) had its target price increased by analysts at JPMorgan Chase & Co. from $89.00 to $93.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 11.17% from the company’s current price.

A number of other research firms have also recently commented on CCEP. UBS Group increased their target price on Coca-Cola Europacific Partners from $103.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $114.00 price objective on shares of Coca-Cola Europacific Partners in a research report on Thursday, January 8th. The Goldman Sachs Group lifted their target price on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Europacific Partners in a report on Tuesday, January 27th. Finally, Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Friday, January 9th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.71.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $104.70 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.65. Coca-Cola Europacific Partners has a 1 year low of $80.70 and a 1 year high of $106.05. The firm has a 50-day moving average of $92.40 and a 200 day moving average of $90.97.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its holdings in shares of Coca-Cola Europacific Partners by 10,480.7% during the 3rd 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 purchased a new stake in Coca-Cola Europacific Partners during the second quarter valued at $381,335,000. Invesco Ltd. lifted its holdings in Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after acquiring an additional 3,751,430 shares during the period. Massachusetts Financial Services Co. MA lifted 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 acquiring an additional 3,392,680 shares during the period. Finally, Bessemer Group Inc. boosted its position in Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock worth $229,428,000 after purchasing an additional 2,518,085 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

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.