Coca-Cola Europacific Partners $CCEP Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Coca-Cola Europacific Partners by 46.9%, owning over 705,000 shares valued at approximately $61.4 million.
• Multiple institutional investors, including Vanguard Group and Invesco, have substantially boosted their holdings in Coca-Cola Europacific Partners during the 1st quarter.
• Analyst ratings for Coca-Cola Europacific Partners vary, with one analyst giving a Strong Buy rating while others have varied from Buy to Hold and even Sell.

Wellington Management Group LLP lifted its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 46.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 705,044 shares of the company's stock after buying an additional 224,959 shares during the quarter. Wellington Management Group LLP owned approximately 0.15% of Coca-Cola Europacific Partners worth $61,353,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CCEP. Assetmark Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after buying an additional 147 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth about $28,000. Optiver Holding B.V. purchased a new stake in shares of Coca-Cola Europacific Partners in the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. boosted its stake in shares of Coca-Cola Europacific Partners by 204.2% in 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 last quarter. Finally, HM Payson & Co. purchased a new stake in shares of Coca-Cola Europacific Partners in the first quarter worth about $33,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock traded down $0.82 during mid-day trading on Wednesday, reaching $88.46. 1,050,985 shares of the stock traded hands, compared to its average volume of 2,128,073. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $40.78 billion, a PE ratio of 18.21, a PEG ratio of 2.60 and a beta of 0.75. The business has a 50-day moving average of $94.51 and a 200 day moving average of $89.86.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays lowered their target price on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. UBS Group increased their price target on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.43.

About Coca-Cola Europacific Partners

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.