Synovus Financial Corp Has $3.03 Million Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Synovus Financial Corp increased its stake in Coca-Cola Europacific Partners by 178.8%, now holding 34,809 shares worth approximately $3 million.
• Several institutional investors, including Bank of New York Mellon Corp and Siemens Fonds Invest GmbH, have also raised their holdings in the company, indicating growing institutional interest.
• The stock has recently seen mixed ratings from brokerages, with UBS Group raising its price target to $105 while others like Morgan Stanley have downgraded their outlook.

Synovus Financial Corp lifted its position in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 178.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,809 shares of the company's stock after buying an additional 22,324 shares during the quarter. Synovus Financial Corp's holdings in Coca-Cola Europacific Partners were worth $3,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Coca-Cola Europacific Partners by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after buying an additional 13,981 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in Coca-Cola Europacific Partners by 79.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock valued at $1,246,000 after purchasing an additional 7,165 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Coca-Cola Europacific Partners by 52.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock valued at $991,000 after purchasing an additional 3,893 shares in the last quarter. Cetera Investment Advisers raised its stake in Coca-Cola Europacific Partners by 12.3% in the fourth quarter. Cetera Investment Advisers now owns 31,339 shares of the company's stock valued at $2,407,000 after purchasing an additional 3,435 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Coca-Cola Europacific Partners by 7.3% in the fourth quarter. Deutsche Bank AG now owns 1,689,202 shares of the company's stock valued at $129,748,000 after purchasing an additional 114,754 shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Up 0.3%

Shares of Coca-Cola Europacific Partners stock traded up $0.30 on Thursday, hitting $88.83. The stock had a trading volume of 1,374,065 shares, compared to its average volume of 1,993,940. The stock has a 50 day moving average of $94.35 and a 200 day moving average of $89.91. Coca-Cola Europacific Partners has a twelve month low of $73.40 and a twelve month high of $100.67. 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 firm has a market capitalization of $40.95 billion, a P/E ratio of 18.28, a PEG ratio of 2.57 and a beta of 0.75.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CCEP. UBS Group boosted their price target on 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. Barclays dropped their price target on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.43.

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.