Zurcher Kantonalbank Zurich Cantonalbank Buys 16,446 Shares of Coca-Cola Europacific Partners (NASDAQ:CCEP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) by 14.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 130,171 shares of the company's stock after acquiring an additional 16,446 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Coca-Cola Europacific Partners were worth $11,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Invesco Ltd. raised its position in Coca-Cola Europacific Partners by 26.3% in the 4th quarter. Invesco Ltd. now owns 10,119,928 shares of the company's stock worth $777,312,000 after purchasing an additional 2,105,019 shares during the period. FMR LLC increased its position in shares of Coca-Cola Europacific Partners by 3.3% in the fourth quarter. FMR LLC now owns 7,234,642 shares of the company's stock valued at $555,693,000 after acquiring an additional 229,679 shares during the period. JPMorgan Chase & Co. increased its position in shares of Coca-Cola Europacific Partners by 43.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,888,100 shares of the company's stock valued at $221,835,000 after acquiring an additional 872,060 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Coca-Cola Europacific Partners by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,476,806 shares of the company's stock valued at $190,243,000 after acquiring an additional 38,911 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Coca-Cola Europacific Partners by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,130,501 shares of the company's stock valued at $162,748,000 after acquiring an additional 82,325 shares during the period. 31.35% of the stock is owned by institutional investors.

Coca-Cola Europacific Partners Price Performance

Shares of NASDAQ CCEP traded up $0.35 during midday trading on Friday, reaching $97.27. The stock had a trading volume of 1,751,666 shares, compared to its average volume of 2,144,883. The stock has a 50-day moving average of $94.13 and a 200-day moving average of $87.92. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 0.81. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 5.02 and a beta of 0.77. Coca-Cola Europacific Partners has a 12-month low of $71.49 and a 12-month high of $100.67.

Analyst Upgrades and Downgrades

CCEP has been the topic of a number of analyst reports. Barclays restated an "overweight" rating and issued a $104.00 price objective (up previously from $101.00) on shares of Coca-Cola Europacific Partners in a research report on Tuesday, July 15th. UBS Group boosted their price target on shares of 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.57.

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.