Coca-Cola Europacific Partners $CCEP Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in Coca-Cola Europacific Partners by 62.5%, acquiring an additional 542,173 shares during the first quarter, bringing its total ownership to approximately $122.6 million.
• Several other hedge funds, including Assetmark Inc. and Cullen Frost Bankers Inc., have significantly modified their holdings in Coca-Cola Europacific Partners, contributing to a total of 31.35% institutional ownership.
• Analyst ratings have varied, with Barclays lowering its price target while UBS raised theirs, resulting in an overall average rating of "Moderate Buy" for the stock.

Royal Bank of Canada increased its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 62.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,409,071 shares of the company's stock after purchasing an additional 542,173 shares during the period. Royal Bank of Canada owned 0.31% of Coca-Cola Europacific Partners worth $122,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Coca-Cola Europacific Partners by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock valued at $57,185,000 after acquiring an additional 13,981 shares during the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Coca-Cola Europacific Partners by 79.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock valued at $1,246,000 after buying an additional 7,165 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Coca-Cola Europacific Partners by 52.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock valued at $991,000 after buying an additional 3,893 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Coca-Cola Europacific Partners by 12.3% in the 4th quarter. Cetera Investment Advisers now owns 31,339 shares of the company's stock valued at $2,407,000 after purchasing an additional 3,435 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Coca-Cola Europacific Partners by 7.3% in the 4th quarter. Deutsche Bank AG now owns 1,689,202 shares of the company's stock valued at $129,748,000 after purchasing an additional 114,754 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

NASDAQ:CCEP traded up $1.46 during trading hours on Friday, reaching $88.88. 1,999,238 shares of the company were exchanged, compared to its average volume of 1,682,790. 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 stock's 50-day moving average is $93.87 and its 200-day moving average is $90.11. The firm has a market cap of $40.97 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCEP. UBS Group boosted their price objective on shares of 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. Morgan Stanley downgraded shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Barclays dropped their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.