Ameriprise Financial Inc. Buys 24,180 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Ameriprise Financial Inc. increased its stake in Coca-Cola Europacific Partners by 1.5%, now holding about 1,668,197 shares valued at $142.49 million.
• Several institutional investors have recently acquired shares, with 31.35% of the stock now owned by institutional investors, indicating growing confidence in the company.
• Analysts have mixed ratings on CCEP, with an average price target of $90.43, as Morgan Stanley downgraded its rating while UBS raised its target price.

Ameriprise Financial Inc. grew its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,668,197 shares of the company's stock after buying an additional 24,180 shares during the quarter. Ameriprise Financial Inc. owned 0.36% of Coca-Cola Europacific Partners worth $142,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after purchasing an additional 147 shares during the period. NBC Securities Inc. bought a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter worth approximately $28,000. Optiver Holding B.V. bought a new stake in shares of Coca-Cola Europacific Partners in the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. boosted 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 worth $32,000 after buying an additional 245 shares during the period. Finally, HM Payson & Co. purchased a new position in Coca-Cola Europacific Partners in the 1st quarter valued at approximately $33,000. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 0.8%

NASDAQ:CCEP traded down $0.75 during trading hours on Wednesday, reaching $88.53. The company's stock had a trading volume of 1,673,645 shares, compared to its average volume of 2,132,129. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The firm has a market capitalization of $40.81 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.60 and a beta of 0.75. The firm has a 50-day simple moving average of $94.51 and a 200-day simple moving average of $89.86. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCEP shares. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Barclays decreased their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, UBS Group lifted their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.43.

Coca-Cola Europacific Partners 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.