Allianz Asset Management GmbH Has $22.54 Million Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Allianz Asset Management GmbH increased its stake in Coca-Cola Europacific Partners (CCEP) by 14.8%, now holding approximately $22.54 million worth of shares.
• Other institutional investors have also made significant adjustments to their holdings in CCEP, with some increasing their stakes by over 200% in the first quarter.
• Wall Street analysts have mixed ratings on CCEP, with five analysts$92.40.

Allianz Asset Management GmbH grew its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,050 shares of the company's stock after purchasing an additional 31,309 shares during the period. Allianz Asset Management GmbH owned about 0.05% of Coca-Cola Europacific Partners worth $22,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after buying an additional 147 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares during the last quarter. HM Payson & Co. bought a new position in Coca-Cola Europacific Partners in the 1st quarter valued at approximately $33,000. Motco raised its holdings in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the last quarter. Finally, Quarry LP raised its holdings in Coca-Cola Europacific Partners by 115.8% in the 1st quarter. Quarry LP now owns 436 shares of the company's stock valued at $38,000 after buying an additional 234 shares during the last quarter. Institutional investors own 31.35% of the company's stock.

Wall Street Analysts Forecast Growth

CCEP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Barclays lowered their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday, August 8th. UBS Group raised their price target on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $92.40.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP stock opened at $90.54 on Monday. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. Coca-Cola Europacific Partners has a 52 week low of $73.40 and a 52 week high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $89.48 and a 200-day moving average of $90.93.

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.

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