Avantax Advisory Services Inc. Makes New Investment in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Avantax Advisory Services Inc. has acquired a new stake in Coca-Cola Europacific Partners, purchasing 3,049 shares valued at approximately $265,000 during the 1st quarter.
• Multiple institutional investors have modified their holdings in Coca-Cola Europacific Partners, with 31.35% of the stock now owned by hedge funds and other institutional entities.
• Coca-Cola Europacific Partners' stock is currently trading at $94.76, showing a 1.7% increase, with analysts providing mixed ratings and a consensus target price of $90.43.

Avantax Advisory Services Inc. acquired a new stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,049 shares of the company's stock, valued at approximately $265,000.

Several other institutional investors also recently bought and sold shares of CCEP. Price Capital Management Inc. purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter valued at approximately $1,520,000. KLP Kapitalforvaltning AS lifted its position in shares of Coca-Cola Europacific Partners by 4.0% in the first quarter. KLP Kapitalforvaltning AS now owns 162,500 shares of the company's stock valued at $14,142,000 after acquiring an additional 6,200 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter valued at approximately $2,419,000. BKM Wealth Management LLC lifted its position in shares of Coca-Cola Europacific Partners by 1.6% in the first quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock valued at $682,000 after acquiring an additional 124 shares in the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Coca-Cola Europacific Partners in the first quarter valued at approximately $229,000. 31.35% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Trading Down 1.4%

Shares of CCEP stock traded down $1.29 on Tuesday, hitting $93.22. The stock had a trading volume of 1,028,887 shares, compared to its average volume of 2,144,322. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a market capitalization of $42.97 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.49 and a beta of 0.75. Coca-Cola Europacific Partners has a 1 year low of $73.40 and a 1 year high of $100.67. The company's 50 day moving average price is $94.84 and its 200-day moving average price is $89.00.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCEP. Barclays decreased their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday. Wall Street Zen lowered Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Finally, UBS Group lifted their price objective on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola Europacific Partners currently has a consensus rating of "Hold" and an average target price 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.