Coca-Cola Europacific Partners $CCEP Shares Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its Coca-Cola Europacific Partners stake by 12% in the second quarter, adding 29,318 shares to own 273,000 shares valued at approximately $27.3 million.
• Other major investors, including Boston Partners, State Street, Norges Bank and Morgan Stanley, also held or expanded significant positions; institutional investors collectively own 31.35% of CCEP.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $108.44, compared with the stock’s Friday opening price of $105.76.

NEOS Investment Management LLC grew its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 12.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 273,000 shares of the company's stock after purchasing an additional 29,318 shares during the period. NEOS Investment Management LLC owned 0.06% of Coca-Cola Europacific Partners worth $27,319,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CCEP. Boston Partners grew its position in shares of Coca-Cola Europacific Partners by 2.6% during the 3rd quarter. Boston Partners now owns 6,266,512 shares of the company's stock valued at $566,051,000 after buying an additional 156,613 shares during the last quarter. State Street Corp lifted its holdings in Coca-Cola Europacific Partners by 0.7% in the third quarter. State Street Corp now owns 4,760,094 shares of the company's stock worth $430,360,000 after acquiring an additional 31,054 shares during the last quarter. Norges Bank acquired a new position in Coca-Cola Europacific Partners in the fourth quarter valued at approximately $363,294,000. FIL Ltd boosted its stake in Coca-Cola Europacific Partners by 0.3% in the fourth quarter. FIL Ltd now owns 3,793,166 shares of the company's stock valued at $344,312,000 after acquiring an additional 10,801 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Coca-Cola Europacific Partners by 4.9% during the fourth quarter. Morgan Stanley now owns 3,494,328 shares of the company's stock valued at $316,936,000 after purchasing an additional 163,808 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CCEP. Wells Fargo & Company raised their price target on Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Barclays increased their target price on Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. UBS Group cut Coca-Cola Europacific Partners from a "buy" rating to a "neutral" rating and cut their target price for the company from $109.00 to $107.00 in a research note on Thursday, August 13th. Sanford C. Bernstein reissued a "market perform" rating and set a $106.00 price target on shares of Coca-Cola Europacific Partners in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $92.00 price target on shares of Coca-Cola Europacific Partners in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.44.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP opened at $105.76 on Friday. Coca-Cola Europacific Partners has a 12-month low of $84.65 and a 12-month high of $113.67. The stock has a 50 day simple moving average of $106.97 and a 200-day simple moving average of $100.48. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20.

Coca-Cola Europacific Partners Profile

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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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