DnB Asset Management AS Purchases 288,060 Shares of Coca-Cola Europacific Partners $CCEP

Key Points

• DnB Asset Management AS has increased its stake in Coca-Cola Europacific Partners by 26.5% this quarter, now owning approximately 1.37 million shares valued at $119.5 million.
• Other large investors, such as Vanguard Group Inc. and AGF Management Ltd., have also significantly boosted their holdings in the company, suggesting strong institutional interest in Coca-Cola Europacific Partners.
• Shares of Coca-Cola Europacific Partners have shown a range between a 12-month low of $73.40 and a high of $100.67, with the current market cap at nearly $40 billion.

DnB Asset Management AS lifted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,373,569 shares of the company's stock after acquiring an additional 288,060 shares during the quarter. DnB Asset Management AS owned approximately 0.30% of Coca-Cola Europacific Partners worth $119,542,000 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% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Coca-Cola Europacific Partners in the 1st quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its position in shares of Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after acquiring an additional 245 shares in the last quarter. HM Payson & Co. acquired a new position in Coca-Cola Europacific Partners in the 1st quarter valued at approximately $33,000. Finally, Motco increased its stake in Coca-Cola Europacific Partners by 285.7% in the 1st quarter. Motco now owns 405 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CCEP shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. 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 research note on Friday, August 8th. UBS Group upped their price objective on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, 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. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.43.

Coca-Cola Europacific Partners Stock Up 1.4%

Shares of CCEP traded up $1.23 during mid-day trading on Monday, hitting $90.11. 3,232,597 shares of the company's stock were exchanged, compared to its average volume of 2,124,693. The firm has a fifty day moving average of $93.87 and a two-hundred day moving average of $90.14. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 2.58 and a beta of 0.78. 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 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.