Coca-Cola Europacific Partners (NASDAQ:CCEP) Sees Unusually-High Trading Volume – Still a Buy?

Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) saw unusually-high trading volume on Friday . Approximately 2,188,644 shares changed hands during trading, an increase of 55% from the previous session’s volume of 1,414,443 shares.The stock last traded at $85.71 and had previously closed at $85.56.

Wall Street Analyst Weigh In

CCEP has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Coca-Cola Europacific Partners from $92.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Sanford C. Bernstein began coverage on shares of Coca-Cola Europacific Partners in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $82.00 price target for the company. Morgan Stanley raised shares of Coca-Cola Europacific Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Evercore ISI raised their price target on shares of Coca-Cola Europacific Partners from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.88.

Coca-Cola Europacific Partners Trading Up 0.2 %

The business’s 50 day moving average is $81.57 and its two-hundred day moving average is $79.16. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $39.53 billion, a P/E ratio of 17.68, a PEG ratio of 4.89 and a beta of 0.91.

Institutional Investors Weigh In On Coca-Cola Europacific Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Coca-Cola Europacific Partners during the 4th quarter valued at about $190,999,000. Invesco Ltd. grew its stake in Coca-Cola Europacific Partners by 26.3% during the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company’s stock valued at $777,312,000 after acquiring an additional 2,105,019 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Coca-Cola Europacific Partners by 307.3% during the 3rd 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 acquiring an additional 1,839,321 shares in the last quarter. Barclays PLC grew its stake 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 valued at $138,631,000 after acquiring an additional 1,268,401 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake 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 valued at $221,835,000 after acquiring an additional 872,060 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

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.