Gateway Investment Advisers LLC Has $1.28 Million Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Gateway Investment Advisers LLC cut its stake in Coca-Cola Europacific Partners by 56.2%, reducing its holdings from 31,375 shares to 13,750 shares.
• Several institutional investors have recently increased their stakes in Coca-Cola Europacific Partners, indicating strong interest with 31.35% of the stock owned by these investors.
• Coca-Cola Europacific Partners currently has an average rating of "Moderate Buy" and a consensus target price of $92.40.

Gateway Investment Advisers LLC decreased its holdings in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 56.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,750 shares of the company's stock after selling 17,625 shares during the period. Gateway Investment Advisers LLC's holdings in Coca-Cola Europacific Partners were worth $1,275,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CCEP. Focus Partners Wealth bought a new position in shares of Coca-Cola Europacific Partners during the 4th quarter worth approximately $215,000. Worldquant Millennium Advisors LLC grew its holdings in shares of Coca-Cola Europacific Partners by 13.5% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 49,710 shares of the company's stock worth $3,818,000 after purchasing an additional 5,930 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $190,243,000 after purchasing an additional 38,911 shares during the last quarter. Vise Technologies Inc. increased its position in shares of Coca-Cola Europacific Partners by 37.9% during the 4th quarter. Vise Technologies Inc. now owns 4,894 shares of the company's stock worth $376,000 after purchasing an additional 1,346 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in Coca-Cola Europacific Partners during the 4th quarter valued at about $3,286,000. 31.35% of the stock is currently owned by institutional investors.

Coca-Cola Europacific Partners Stock Performance

Shares of CCEP traded down $1.39 during midday trading on Monday, reaching $88.55. 1,084,965 shares of the stock were exchanged, compared to its average volume of 1,998,226. 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 company has a market cap of $40.82 billion, a P/E ratio of 18.22, a PEG ratio of 2.61 and a beta of 0.78. The stock's 50 day simple moving average is $92.61 and its 200 day simple moving average is $90.42. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CCEP shares. UBS Group upped 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 cut Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Barclays cut their price objective on 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. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Coca-Cola Europacific Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.40.

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.