Bank of America Corp DE Acquires 17,036 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• Bank of America increased its Coca-Cola Europacific Partners stake by 0.6% in the first quarter, purchasing 17,036 shares to own 2.69 million shares valued at approximately $244.1 million.
• Institutional investors own 31.35% of CCEP, while several smaller funds also recently initiated or expanded positions.
• CCEP shares opened at $108.19, near the analyst consensus target of $108.50. Analysts maintain a “Moderate Buy” consensus, with eight Buy ratings and three Holds.

Bank of America Corp DE raised its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,692,575 shares of the company's stock after buying an additional 17,036 shares during the period. Bank of America Corp DE owned about 0.58% of Coca-Cola Europacific Partners worth $244,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bayban bought a new position in shares of Coca-Cola Europacific Partners in the 4th quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Coca-Cola Europacific Partners by 407.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company's stock worth $32,000 after buying an additional 285 shares during the period. Whipplewood Advisors LLC grew its stake in Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company's stock valued at $36,000 after purchasing an additional 369 shares during the last quarter. Quarry LP raised its position in Coca-Cola Europacific Partners by 59.1% during the 4th quarter. Quarry LP now owns 393 shares of the company's stock worth $36,000 after buying an additional 146 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in Coca-Cola Europacific Partners during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Coca-Cola Europacific Partners stock opened at $108.19 on Tuesday. The company has a fifty day simple moving average of $101.33 and a 200-day simple moving average of $98.01. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.23. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $113.67.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $2.47 by ($1.21). The company had revenue of $6.14 billion for the quarter, compared to analysts' expectations of $12.22 billion. Research analysts expect that Coca-Cola Europacific Partners will post 4.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. UBS Group raised their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Weiss Ratings lowered shares of Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an "overweight" rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.50.

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Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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