Hsbc Holdings PLC Has $38.12 Million Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Hsbc Holdings PLC significantly increased its stake in Coca-Cola Europacific Partners by 202.1% during the first quarter, acquiring an additional 293,202 shares and valuing its holdings at approximately $38.1 million.
• Several other institutional investors also bought or increased their holdings in Coca-Cola Europacific Partners, highlighting strong interest with a combined institutional ownership of 31.35%.
• Despite a recent 0.9% drop in stock price, Coca-Cola Europacific Partners has a market capitalization of $41.64 billion and maintains a reasonable PE ratio of 18.59, with recent analyst ratings showing a mixed outlook for the stock.

Hsbc Holdings PLC raised its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 202.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,286 shares of the company's stock after purchasing an additional 293,202 shares during the period. Hsbc Holdings PLC owned about 0.10% of Coca-Cola Europacific Partners worth $38,122,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CCEP. Invesco Ltd. lifted its holdings in Coca-Cola Europacific Partners by 2.1% in the 1st quarter. Invesco Ltd. now owns 10,335,894 shares of the company's stock valued at $899,533,000 after acquiring an additional 215,966 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Coca-Cola Europacific Partners by 462.7% in the 1st quarter. Vanguard Group Inc. now owns 9,883,600 shares of the company's stock valued at $862,167,000 after acquiring an additional 8,126,996 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Coca-Cola Europacific Partners by 24.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,205,337 shares of the company's stock valued at $540,050,000 after acquiring an additional 1,214,493 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Coca-Cola Europacific Partners by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,030,119 shares of the company's stock valued at $263,711,000 after acquiring an additional 142,019 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Coca-Cola Europacific Partners by 1.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock valued at $190,243,000 after acquiring an additional 38,911 shares during the last quarter. Institutional investors own 31.35% of the company's stock.

Analysts Set New Price Targets

CCEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday, August 8th. Barclays reduced their price target on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. UBS Group raised 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 lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and an average price target of $90.43.

Coca-Cola Europacific Partners Stock Down 0.9%

Shares of NASDAQ CCEP traded down $0.77 during mid-day trading on Wednesday, reaching $88.51. The company had a trading volume of 1,098,917 shares, compared to its average volume of 2,128,372. The stock has a fifty day moving average of $94.51 and a two-hundred day moving average of $89.86. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The company has a market capitalization of $40.80 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.60 and a beta of 0.75. Coca-Cola Europacific Partners has a 12-month low of $73.40 and a 12-month high of $100.67.

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.