BNP Paribas Financial Markets Increases Position in Coca-Cola Europacific Partners $CCEP

Key Points

• BNP Paribas Financial Markets increased its stake in Coca-Cola Europacific Partners by 31.4%, acquiring an additional 160,611 shares to own a total of 672,687 shares valued at approximately $58.5 million.
• Institutional investors now hold 31.35% of Coca-Cola Europacific Partners, with prominent firms like Bank of New York Mellon and Deutsche Bank increasing their positions in the company.
• Despite fluctuating analyst ratings, Coca-Cola Europacific Partners has a consensus rating of "Moderate Buy" with an average target price of $90.43.

BNP Paribas Financial Markets lifted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 31.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,687 shares of the company's stock after buying an additional 160,611 shares during the period. BNP Paribas Financial Markets owned approximately 0.15% of Coca-Cola Europacific Partners worth $58,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Coca-Cola Europacific Partners by 45.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 29,433 shares of the company's stock worth $2,562,000 after buying an additional 9,233 shares during the period. Synovus Financial Corp lifted its stake in shares of Coca-Cola Europacific Partners by 178.8% during the first quarter. Synovus Financial Corp now owns 34,809 shares of the company's stock worth $3,029,000 after buying an additional 22,324 shares during the period. ICONIQ Capital LLC purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter worth $213,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Coca-Cola Europacific Partners during the first quarter worth $2,837,000. Finally, Axiom Investors LLC DE raised its holdings in shares of Coca-Cola Europacific Partners by 48.5% during the first quarter. Axiom Investors LLC DE now owns 166,475 shares of the company's stock worth $14,488,000 after purchasing an additional 54,350 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. 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 report on Wednesday, July 2nd. Barclays cut their price objective 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. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. 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. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Trading Up 0.5%

Coca-Cola Europacific Partners stock traded up $0.40 during trading on Thursday, hitting $87.07. The company had a trading volume of 725,252 shares, compared to its average volume of 2,114,050. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.15. The company's 50 day simple moving average is $93.99 and its 200-day simple moving average is $90.06. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

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.