Invesco Ltd. Increases Stake in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Invesco Ltd. increased its stake in Coca-Cola Europacific Partners by 2.1%, now owning approximately 10.34 million shares valued at over $899 million.
• Several other institutional investors have also raised their holdings, with a total of 31.35% of the company's stock owned by hedge funds and institutional investors.
• Analyst ratings are mixed, with one sell rating, five holds, and four buys, reflecting uncertainty in the stock's outlook.

Invesco Ltd. boosted its position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,335,894 shares of the company's stock after buying an additional 215,966 shares during the period. Invesco Ltd. owned approximately 2.24% of Coca-Cola Europacific Partners worth $899,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CCEP. Assetmark Inc. boosted its position in Coca-Cola Europacific Partners by 107.3% in the 1st quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after purchasing an additional 147 shares in the last quarter. NBC Securities Inc. purchased a new stake in Coca-Cola Europacific Partners in the 1st quarter worth approximately $28,000. Optiver Holding B.V. purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Coca-Cola Europacific Partners by 204.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock valued at $32,000 after buying an additional 245 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in shares of Coca-Cola Europacific Partners during the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCEP. UBS Group increased their target price on Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Coca-Cola Europacific Partners in a research note on Friday. Barclays reduced 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 note on Friday. Finally, Morgan Stanley downgraded Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 7th. One 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 company. According to data from MarketBeat.com, Coca-Cola Europacific Partners presently has an average rating of "Hold" and a consensus price target of $90.43.

Coca-Cola Europacific Partners Trading Down 1.4%

Shares of NASDAQ:CCEP traded down $1.29 during midday trading on Tuesday, reaching $93.22. 1,619,791 shares of the company's stock were exchanged, compared to its average volume of 1,749,947. The firm's 50 day simple moving average is $94.84 and its two-hundred day simple moving average is $89.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.83 and a quick ratio of 0.65. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 2.73 and a beta of 0.75. Coca-Cola Europacific Partners has a fifty-two week low of $73.40 and a fifty-two week high of $100.67.

Coca-Cola Europacific Partners 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.