BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 82,900 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• British Columbia Investment Management Corp increased its stake in Coca-Cola Europacific Partners by 13.0%, acquiring 82,900 shares in the process, bringing their total ownership to 719,962 shares valued at approximately $62.7 million.
• Analysts are mixed on the stock, with ratings ranging from Strong Buy to Sell, and the average price target is currently $90.43.
• Coca-Cola Europacific Partners' stock is trading at $90.34, with a market cap of $41.64 billion, and has seen a 52-week range between $73.40 and $100.67.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 719,962 shares of the company's stock after buying an additional 82,900 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.16% of Coca-Cola Europacific Partners worth $62,737,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CCEP. First Trust Advisors LP boosted its holdings in Coca-Cola Europacific Partners by 9.1% during the fourth quarter. First Trust Advisors LP now owns 425,565 shares of the company's stock valued at $32,688,000 after purchasing an additional 35,387 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coca-Cola Europacific Partners by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,142 shares of the company's stock worth $4,087,000 after buying an additional 155 shares during the period. MetLife Investment Management LLC boosted its stake in Coca-Cola Europacific Partners by 35.0% in the 4th quarter. MetLife Investment Management LLC now owns 24,300 shares of the company's stock valued at $1,866,000 after buying an additional 6,300 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in Coca-Cola Europacific Partners by 61.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,757 shares of the company's stock worth $135,000 after acquiring an additional 668 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Coca-Cola Europacific Partners by 16.8% during the fourth quarter. Hsbc Holdings PLC now owns 145,084 shares of the company's stock valued at $11,107,000 after acquiring an additional 20,875 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCEP has been the topic of several analyst reports. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. UBS Group boosted their price objective on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Barclays lowered their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.43.

Coca-Cola Europacific Partners Stock Down 0.8%

CCEP traded down $0.75 during trading on Wednesday, hitting $88.53. The company had a trading volume of 1,673,071 shares, compared to its average volume of 2,131,820. The company has a market capitalization of $40.81 billion, a PE ratio of 18.22, a PEG ratio of 2.60 and a beta of 0.75. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. Coca-Cola Europacific Partners has a one year low of $73.40 and a one year high of $100.67. The firm's 50-day moving average price is $94.51 and its 200 day moving average price is $89.86.

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.