Coca-Cola Europacific Partners $CCEP Shares Bought by Amundi

Key Points

• Amundi increased its Coca-Cola Europacific Partners stake by 13.4% in the first quarter, buying 401,683 additional shares to own 3.4 million shares valued at approximately $308.2 million.
• Other institutional investors also raised or initiated positions, while hedge funds and institutional investors collectively owned 31.35% of CCEP.
• CCEP shares recently traded near $111.10, close to their 12-month high, and analysts maintained a favorable outlook with a “Moderate Buy” consensus and an average price target of $107.88.

Amundi boosted its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,399,052 shares of the company's stock after buying an additional 401,683 shares during the quarter. Amundi owned approximately 0.74% of Coca-Cola Europacific Partners worth $308,192,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Coca-Cola Europacific Partners by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 5,777 shares of the company's stock worth $524,000 after purchasing an additional 2,312 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Coca-Cola Europacific Partners by 4.7% during the first quarter. Quantinno Capital Management LP now owns 96,751 shares of the company's stock valued at $8,772,000 after purchasing an additional 4,330 shares in the last quarter. SummitTX Capital L.P. purchased a new position in Coca-Cola Europacific Partners during the first quarter valued at $280,000. Entropy Technologies LP acquired a new stake in shares of Coca-Cola Europacific Partners in the first quarter valued at about $671,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Coca-Cola Europacific Partners by 157.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 493,118 shares of the company's stock valued at $44,715,000 after purchasing an additional 301,910 shares during the period. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Trading Down 0.3%

Shares of CCEP opened at $111.10 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.80 and a quick ratio of 0.60. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $113.67. The firm has a 50-day moving average price of $100.39 and a 200 day moving average price of $97.56.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Thursday, July 2nd. Wells Fargo & Company boosted their price target on Coca-Cola Europacific Partners from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. UBS Group increased their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings lowered Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Finally, Barclays lifted their target price on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $107.88.

About Coca-Cola Europacific Partners

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Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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