Cubist Systematic Strategies LLC Purchases New Position in Coca-Cola Europacific Partners $CCEP

Key Points

• Cubist Systematic Strategies LLC has made a new investment of approximately $10.93 million in Coca-Cola Europacific Partners by acquiring 125,595 shares.
• Several hedge funds, including the Royal Bank of Canada and BNP Paribas Financial Markets, have significantly increased their positions in Coca-Cola Europacific Partners during the first quarter.
• Analysts have mixed reviews on the stock, with recent ratings changes including a downgrade from Morgan Stanley and a price target increase from UBS Group.

Cubist Systematic Strategies LLC acquired a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 125,595 shares of the company's stock, valued at approximately $10,931,000.

A number of other institutional investors also recently bought and sold shares of the stock. Private Trust Co. NA raised its holdings in Coca-Cola Europacific Partners by 6.0% in the 1st quarter. Private Trust Co. NA now owns 2,022 shares of the company's stock worth $176,000 after purchasing an additional 115 shares during the period. BKM Wealth Management LLC raised its stake in shares of Coca-Cola Europacific Partners by 1.6% in the first quarter. BKM Wealth Management LLC now owns 7,834 shares of the company's stock worth $682,000 after buying an additional 124 shares during the period. Assetmark Inc. raised its stake in shares of Coca-Cola Europacific Partners by 107.3% in the first quarter. Assetmark Inc. now owns 284 shares of the company's stock worth $25,000 after buying an additional 147 shares during the period. RWA Wealth Partners LLC raised its stake in shares of Coca-Cola Europacific Partners by 0.3% in the first quarter. RWA Wealth Partners LLC now owns 53,905 shares of the company's stock worth $4,691,000 after buying an additional 149 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Coca-Cola Europacific Partners by 2.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,177 shares of the company's stock worth $538,000 after buying an additional 150 shares during the period. 31.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CCEP. Barclays decreased their price objective on Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners 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, UBS Group raised their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.43.

Coca-Cola Europacific Partners Price Performance

NASDAQ CCEP traded up $1.46 on Friday, reaching $88.88. The company had a trading volume of 1,999,238 shares, compared to its average volume of 1,707,476. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $40.97 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The firm's 50 day moving average price is $93.87 and its 200 day moving average price is $90.14. Coca-Cola Europacific Partners has a 12 month low of $73.40 and a 12 month 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.