Rafferty Asset Management LLC Has $13.01 Million Holdings in Coca-Cola Europacific Partners $CCEP

Key Points

• Rafferty Asset Management LLC reduced its stake in Coca-Cola Europacific Partners by 12.5%, selling 21,433 shares, which brought its total holdings to 149,534 shares worth approximately $13 million.
• Several institutional investors made significant changes to their positions in Coca-Cola Europacific Partners during the first quarter, including Assetmark Inc. which raised its stake by 107.3%.
• Analysts are mixed on Coca-Cola Europacific Partners, with UBS raising the price target to $105 and Morgan Stanley downgrading to an "equal weight" rating, resulting in a consensus rating of "Moderate Buy" with an average price target of $90.43.

Rafferty Asset Management LLC decreased its holdings in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 149,534 shares of the company's stock after selling 21,433 shares during the quarter. Rafferty Asset Management LLC's holdings in Coca-Cola Europacific Partners were worth $13,014,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CCEP. Bank of New York Mellon Corp grew its position in Coca-Cola Europacific Partners by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 657,071 shares of the company's stock worth $57,185,000 after purchasing an additional 13,981 shares in the last quarter. Siemens Fonds Invest GmbH grew its position in Coca-Cola Europacific Partners by 79.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 16,226 shares of the company's stock worth $1,246,000 after purchasing an additional 7,165 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Coca-Cola Europacific Partners by 52.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company's stock worth $991,000 after purchasing an additional 3,893 shares in the last quarter. Cetera Investment Advisers grew its position in Coca-Cola Europacific Partners by 12.3% during the 4th quarter. Cetera Investment Advisers now owns 31,339 shares of the company's stock worth $2,407,000 after purchasing an additional 3,435 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Coca-Cola Europacific Partners by 7.3% during the 4th quarter. Deutsche Bank AG now owns 1,689,202 shares of the company's stock worth $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 Stock Up 0.0%

Shares of Coca-Cola Europacific Partners stock traded up $0.03 on Friday, hitting $88.86. 1,581,790 shares of the company traded hands, compared to its average volume of 1,982,794. The company has a 50-day moving average price of $94.27 and a 200 day moving average price of $90.02. 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 has a 12-month low of $73.40 and a 12-month high of $100.67. The company has a market cap of $40.96 billion, a PE ratio of 18.28, a PEG ratio of 2.58 and a beta of 0.75.

Analysts Set New Price Targets

CCEP has been the topic of several research analyst reports. 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. UBS Group lifted 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 report on Wednesday, July 2nd. Barclays lowered 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 report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Friday, August 8th. Finally, Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.43.

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.