Coca-Cola Europacific Partners $CCEP Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Coca-Cola Europacific Partners by 4.8% during the 2nd quarter, acquiring a total of 170,300 shares valued at approximately $15.8 million.
• Several hedge funds significantly altered their positions in Coca-Cola Europacific Partners, with one fund increasing its stake by 285.7% during the first quarter.
• Analysts have mixed opinions on the stock; while Weiss Ratings maintains a "buy" rating, Morgan Stanley and Wall Street Zen have downgraded their ratings, reflecting a range of "buy" to "hold" ratings among analysts.

KLP Kapitalforvaltning AS lifted its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,300 shares of the company's stock after purchasing an additional 7,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Coca-Cola Europacific Partners were worth $15,790,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Coca-Cola Europacific Partners by 107.3% during the first quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after purchasing an additional 147 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth approximately $28,000. Cullen Frost Bankers Inc. increased its stake in shares of Coca-Cola Europacific Partners by 204.2% during the first quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after buying an additional 245 shares during the period. HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners during the first quarter worth approximately $33,000. Finally, Motco increased its stake in shares of Coca-Cola Europacific Partners by 285.7% during the first quarter. Motco now owns 405 shares of the company's stock worth $35,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $87.21 on Thursday. 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 stock has a fifty day moving average price of $90.44 and a 200 day moving average price of $90.74. Coca-Cola Europacific Partners has a 1-year low of $73.40 and a 1-year high of $100.67. The company has a market cap of $40.20 billion, a PE ratio of 17.94, a P/E/G ratio of 2.48 and a beta of 0.77.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings restated a "buy (b+)" rating on shares of Coca-Cola Europacific Partners in a research note on Wednesday. Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Barclays lowered their target price on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $92.40.

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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