Assenagon Asset Management S.A. Raises Stock Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Assenagon Asset Management S.A. has increased its holdings in Coca-Cola Europacific Partners by 15.6%, owning a total of 22,382 shares valued at approximately $2.07 million.
• Recent analysts' reports have given Coca-Cola Europacific Partners varied ratings, with UBS Group raising its target price to $105.00, while Wall Street Zen downgraded it from a "buy" to a "hold" rating.
• The company’s current stock price is around $89.43, reflecting a 0.4% decrease, with a market cap of $41.22 billion and notable analyst ratings indicating a consensus of "Moderate Buy."

Assenagon Asset Management S.A. raised its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 15.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,382 shares of the company's stock after buying an additional 3,016 shares during the period. Assenagon Asset Management S.A.'s holdings in Coca-Cola Europacific Partners were worth $2,075,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CCEP. Fulton Bank N.A. grew its stake in shares of Coca-Cola Europacific Partners by 5.6% in the second quarter. Fulton Bank N.A. now owns 3,540 shares of the company's stock worth $328,000 after purchasing an additional 189 shares during the last quarter. Swedbank AB increased its stake in shares of Coca-Cola Europacific Partners by 1.3% during the second quarter. Swedbank AB now owns 176,819 shares of the company's stock valued at $16,395,000 after buying an additional 2,219 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in shares of Coca-Cola Europacific Partners by 55.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,266 shares of the company's stock valued at $396,000 after acquiring an additional 1,530 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Coca-Cola Europacific Partners by 22.0% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,839 shares of the company's stock valued at $2,303,000 after acquiring an additional 4,480 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in Coca-Cola Europacific Partners by 11.1% in the second quarter. Aaron Wealth Advisors LLC now owns 2,744 shares of the company's stock worth $254,000 after acquiring an additional 275 shares during the period. 31.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CCEP shares. UBS Group raised their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen cut Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. Finally, Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Coca-Cola Europacific Partners Stock Down 0.4%

NASDAQ:CCEP opened at $89.43 on Friday. 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 cap of $41.22 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.60 and a beta of 0.78. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67. The firm has a 50-day simple moving average of $92.28 and a two-hundred day simple moving average of $90.47.

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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