Coca-Cola Europacific Partners (NYSE: CCEP – Get a rating) has been updated by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report released Wednesday, Zacks.com reports.
According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in the production, distribution and marketing of non-alcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, France mainland, Germany, Great Britain, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain and Sweden Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, UK.”
Several other research companies have also recently weighed in on CCEP. Credit Suisse Group cut its price target on Coca-Cola Europacific Partners shares from €61.00 ($67.03) to €60.00 ($65.93) and set an “outperform” rating on the action in a Friday, February 18 research note. Barclays lowered its price target on Coca-Cola Europacific Partners shares from $78.00 to $74.00 and set an “overweight” rating for the company in a Friday, February 18 research report. Bank of America lowered its price target on Coca-Cola Europacific Partners shares from $68.00 to $55.00 and set a “buy” rating for the company in a Wednesday, March 9 research report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Coca-Cola Europacific Partners from $72.00 to $70.00 in a Thursday, February 17 report. Finally, ING Group began covering the shares of Coca-Cola Europacific Partners in a report on Tuesday, February 8. They set a “buy” rating and a price target of $71.05 for the company. One analyst rated the stock with a sell rating, four issued a hold rating and thirteen assigned the company a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $65.84.
Shares of NYSE CCEP traded down $1.62 during Wednesday’s trading, hitting $48.09. The company had a trading volume of 993,560 shares, compared to an average volume of 1,333,064. The stock has a fifty-day simple moving average of $53.68 and a two-hundred-day simple moving average of 54, $57. Coca-Cola Europacific Partners has a fifty-two week low of $42.33 and a fifty-two week high of $63.04. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt ratio of 1.64.
A number of large investors have recently changed their positions in CCEP. Benjamin Edwards Inc. acquired a new position in Coca-Cola Europacific Partners in the fourth quarter worth approximately $28,000. Castle Financial & Retirement Planning Associates Inc. purchased a new stake in Coca-Cola Europacific Partners stock in the fourth quarter for approximately $29,000. CWM LLC purchased a new stock position in Coca-Cola Europacific Partners during the fourth quarter for a value of approximately $34,000. Standard Family Office LLC bought a new position in Coca-Cola Europacific Partners in the fourth quarter worth approximately $36,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in Coca-Cola Europapacific Partners in the fourth quarter worth approximately $44,000.
Coca-Cola Europacific Partners Company Profile (Get a rating)
Coca-Cola Europacific Partners Plc is engaged in the distribution and sale of ready-to-drink soft drinks. It operates through the following geographical segments: Iberia, Germany, Great Britain, France, Belgium/Luxembourg, Netherlands, Norway, Sweden and Iceland. The company was founded on August 4, 2015 and is based in Uxbridge, UK.
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