Cullen Capital Management LLC Invests $30.52 Million in Coca-Cola Europacific Partners $CCEP

Key Points

• Cullen Capital Management acquired 304,979 shares of Coca-Cola Europacific Partners in the second quarter, valued at approximately $30.52 million and representing about 0.07% of the company.
• Institutional ownership remains significant at 31.35%, with several other investment firms increasing their positions during the quarter.
• CCEP shares opened at $110.12, near their 12-month high of $113.67. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $108.56, though targets range as high as $120.

Cullen Capital Management LLC purchased a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 304,979 shares of the company's stock, valued at approximately $30,519,000. Cullen Capital Management LLC owned approximately 0.07% of Coca-Cola Europacific Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new stake in Coca-Cola Europacific Partners during the 2nd quarter worth approximately $378,000. Legacy Wealth Asset Management LLC raised its position in shares of Coca-Cola Europacific Partners by 5.6% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 27,237 shares of the company's stock valued at $2,726,000 after purchasing an additional 1,455 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Coca-Cola Europacific Partners by 5.8% during the 2nd quarter. Gradient Investments LLC now owns 58,841 shares of the company's stock valued at $5,888,000 after buying an additional 3,241 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Coca-Cola Europacific Partners by 17.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 28,007 shares of the company's stock valued at $2,803,000 after buying an additional 4,150 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Coca-Cola Europacific Partners by 31.5% during the second quarter. GAMMA Investing LLC now owns 1,086 shares of the company's stock worth $109,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Stock Up 2.0%

Shares of NASDAQ CCEP opened at $110.12 on Tuesday. Coca-Cola Europacific Partners has a twelve month low of $84.65 and a twelve month high of $113.67. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 1.20. The business has a 50 day simple moving average of $105.20 and a 200-day simple moving average of $99.81.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Sanford C. Bernstein restated a "market perform" rating and issued a $106.00 price target on shares of Coca-Cola Europacific Partners in a research note on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. UBS Group lowered shares of Coca-Cola Europacific Partners from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $109.00 to $107.00 in a report on Thursday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, August 13th. Finally, Barclays upped their target price on shares of Coca-Cola Europacific Partners from $114.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $108.56.

Coca-Cola Europacific Partners Profile

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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