Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Gap Down – Time to Sell?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $85.82, but opened at $83.50. Coca-Cola Europacific Partners shares last traded at $83.69, with a volume of 839,767 shares trading hands.

Analyst Upgrades and Downgrades

CCEP has been the subject of a number of research analyst reports. Kepler Capital Markets cut Coca-Cola Europacific Partners from a “hold” rating to a “reduce” rating in a report on Tuesday, February 25th. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Sanford C. Bernstein assumed coverage on shares of Coca-Cola Europacific Partners in a report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 target price on the stock. JPMorgan Chase & Co. cut Coca-Cola Europacific Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $82.00 in a research note on Wednesday, November 27th. Finally, Barclays lowered their price objective on Coca-Cola Europacific Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Coca-Cola Europacific Partners Stock Performance

The company has a fifty day moving average of $79.76 and a two-hundred day moving average of $78.74. 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 has a market cap of $38.55 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 4.89 and a beta of 0.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCEP. Norges Bank bought a new stake in Coca-Cola Europacific Partners during the 4th quarter worth approximately $190,999,000. Invesco Ltd. increased its holdings in Coca-Cola Europacific Partners by 26.3% in the fourth quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after purchasing an additional 2,105,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Coca-Cola Europacific Partners by 307.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,437,895 shares of the company’s stock valued at $191,984,000 after purchasing an additional 1,839,321 shares during the period. Barclays PLC raised its position in Coca-Cola Europacific Partners by 236.4% during the 4th quarter. Barclays PLC now owns 1,804,855 shares of the company’s stock worth $138,631,000 after purchasing an additional 1,268,401 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Coca-Cola Europacific Partners by 43.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company’s stock worth $221,835,000 after buying an additional 872,060 shares during the period. Institutional investors and hedge funds 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.