Entropy Technologies LP Takes Position in Coca-Cola Europacific Partners (NASDAQ:CCEP)

Key Points

• Entropy Technologies LP has acquired 68,449 shares of Coca-Cola Europacific Partners (NASDAQ:CCEP), valued at approximately $5,957,000.
• Recent activity shows hedge funds increasing their investments in CCEP, with Federated Hermes raising its stake by 27.0% in the last quarter.
• Coca-Cola Europacific Partners currently has a consensus rating of "Hold" from analysts, with an average price target of $90.43.

Entropy Technologies LP bought a new position in Coca-Cola Europacific Partners (NASDAQ:CCEP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 68,449 shares of the company's stock, valued at approximately $5,957,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew 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 during the last quarter. NBC Securities Inc. bought a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $28,000. Optiver Holding B.V. bought a new position in Coca-Cola Europacific Partners in the 4th quarter worth about $29,000. Cullen Frost Bankers Inc. grew its position in Coca-Cola Europacific Partners by 204.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 365 shares of the company's stock worth $32,000 after purchasing an additional 245 shares during the last quarter. Finally, HM Payson & Co. bought a new position in Coca-Cola Europacific Partners in the 1st quarter worth about $33,000. Institutional investors own 31.35% of the company's stock.

Coca-Cola Europacific Partners Trading Down 1.4%

Shares of NASDAQ:CCEP traded down $1.29 during mid-day trading on Tuesday, hitting $93.22. The stock had a trading volume of 1,619,791 shares, compared to its average volume of 1,749,947. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.65 and a current ratio of 0.83. The company has a market cap of $42.97 billion, a PE ratio of 19.18, a P/E/G ratio of 2.73 and a beta of 0.75. Coca-Cola Europacific Partners has a 12-month low of $73.40 and a 12-month high of $100.67. The company's 50 day moving average is $94.84 and its 200-day moving average is $89.00.

Analyst Upgrades and Downgrades

Several research firms have commented on CCEP. UBS Group upped their target price on shares of Coca-Cola Europacific Partners from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley cut shares of Coca-Cola Europacific Partners from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 7th. Barclays decreased their price objective on shares of Coca-Cola Europacific Partners from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday. Wall Street Zen cut shares of Coca-Cola Europacific Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Coca-Cola Europacific Partners in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.43.

Coca-Cola Europacific Partners Company 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.