Coca-Cola Europacific Partners (NASDAQ:CCEP) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Coca-Cola Europacific Partners by 8.6%, owning 127,804 shares valued at approximately $11.1 million.
• Research analysts are bullish on Coca-Cola Europacific Partners, with Barclays setting a price target of $104.00 and UBS raising their target to $105.00, while the average rating remains a "Hold".
• The company's stock has a market cap of $42.97 billion and has fluctuated between a 12-month low of $72.38 and a high of $100.67.

LPL Financial LLC lifted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,804 shares of the company's stock after acquiring an additional 10,104 shares during the quarter. LPL Financial LLC's holdings in Coca-Cola Europacific Partners were worth $11,123,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $57,185,000 after purchasing an additional 13,981 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of 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 worth $1,246,000 after acquiring an additional 7,165 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of 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 buying an additional 3,893 shares during the period. Cetera Investment Advisers grew its position in shares of 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 buying an additional 3,435 shares during the period. Finally, Deutsche Bank AG grew its holdings in Coca-Cola Europacific Partners by 7.3% during 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 during the period. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Performance

NASDAQ CCEP opened at $93.22 on Friday. The company has a fifty day simple moving average of $94.73 and a 200 day simple moving average of $88.59. Coca-Cola Europacific Partners has a 12-month low of $72.38 and a 12-month high of $100.67. The company has a current ratio of 0.81, a quick ratio of 0.62 and a debt-to-equity ratio of 1.11. The company has a market cap of $42.97 billion, a P/E ratio of 19.18, a PEG ratio of 2.39 and a beta of 0.75.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays reaffirmed an "overweight" rating and issued a $104.00 price target (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a research note on Tuesday, July 15th. UBS Group increased 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. Wall Street Zen lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Morgan Stanley lowered shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $90.57.

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.

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